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

Commvault Systems (NASDAQ:CVLT) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.

Several other analysts have also issued reports on the company. Lake Street Capital upped their target price on Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Guggenheim reissued a “buy” rating and issued a $122.00 price objective on shares of Commvault Systems in a report on Tuesday, June 25th. KeyCorp boosted their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada upped their price target on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, Piper Sandler lifted their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Commvault Systems has an average rating of “Moderate Buy” and an average price target of $134.29.

Commvault Systems Price Performance

NASDAQ:CVLT traded up $1.50 during trading hours on Wednesday, reaching $152.85. 873,472 shares of the stock were exchanged, compared to its average volume of 343,275. The stock has a market cap of $6.69 billion, a PE ratio of 40.65 and a beta of 0.61. Commvault Systems has a twelve month low of $63.70 and a twelve month high of $155.33. The firm has a 50 day moving average of $118.92 and a 200 day moving average of $104.49.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. The business had revenue of $224.67 million during the quarter, compared to analysts’ expectations of $215.54 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. Equities research analysts anticipate that Commvault Systems will post 1.7 earnings per share for the current year.

Insider Buying and Selling at Commvault Systems

In other news, Director Vivie Lee sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $112.19, for a total transaction of $280,475.00. Following the completion of the sale, the director now owns 13,589 shares in the company, valued at approximately $1,524,549.91. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Commvault Systems news, CEO Sanjay Mirchandani sold 15,975 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $110.20, for a total value of $1,760,445.00. Following the transaction, the chief executive officer now directly owns 539,465 shares of the company’s stock, valued at approximately $59,449,043. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vivie Lee sold 2,500 shares of Commvault Systems stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $112.19, for a total value of $280,475.00. Following the sale, the director now directly owns 13,589 shares of the company’s stock, valued at approximately $1,524,549.91. The disclosure for this sale can be found here. Insiders have sold a total of 59,816 shares of company stock worth $6,613,874 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hexagon Capital Partners LLC grew its position in shares of Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after purchasing an additional 196 shares in the last quarter. Signaturefd LLC grew its position in Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after buying an additional 170 shares in the last quarter. GAMMA Investing LLC increased its stake in Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after acquiring an additional 309 shares during the period. Headlands Technologies LLC acquired a new position in Commvault Systems in the 4th quarter valued at $67,000. Finally, DT Investment Partners LLC bought a new stake in shares of Commvault Systems during the 2nd quarter valued at $69,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.