Commvault Systems (NASDAQ:CVLT) Cut to Buy at StockNews.com

StockNews.com lowered shares of Commvault Systems (NASDAQ:CVLT) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning.

Several other analysts have also recently weighed in on the company. Oppenheimer initiated coverage on Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. Royal Bank of Canada upped their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.56.

Commvault Systems Price Performance

CVLT stock opened at $161.28 on Thursday. Commvault Systems has a 1 year low of $77.56 and a 1 year high of $178.72. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 40.83 and a beta of 0.65. The company has a 50 day simple moving average of $164.92 and a 200 day simple moving average of $151.89.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same period in the prior year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts anticipate that Commvault Systems will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total transaction of $212,520.00. Following the transaction, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the sale, the insider now owns 93,007 shares of the company’s stock, valued at $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock valued at $2,244,755 over the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its position in shares of Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock worth $296,000 after purchasing an additional 66 shares in the last quarter. Xponance Inc. grew its stake in Commvault Systems by 1.3% in the second quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock valued at $775,000 after acquiring an additional 79 shares during the period. GAMMA Investing LLC increased its holdings in shares of Commvault Systems by 13.7% during the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after acquiring an additional 121 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Commvault Systems by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after purchasing an additional 139 shares during the period. Finally, Parallel Advisors LLC grew its position in Commvault Systems by 5.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock valued at $334,000 after purchasing an additional 153 shares during the period. 93.50% of the stock is owned by institutional investors.

About Commvault Systems

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.