BidaskClub Downgrades CommVault Systems (CVLT) to Hold

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CommVault Systems (NASDAQ:CVLT) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, BidAskClub reports.

Several other research analysts have also weighed in on CVLT. Piper Jaffray Companies lowered CommVault Systems from an “overweight” rating to a “neutral” rating and set a $66.00 target price on the stock. in a report on Monday, February 11th. Lake Street Capital lifted their target price on CommVault Systems to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 30th. Zacks Investment Research lowered CommVault Systems from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Finally, ValuEngine lowered CommVault Systems from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $75.00.

Shares of CommVault Systems stock opened at $63.41 on Tuesday. CommVault Systems has a 12 month low of $51.53 and a 12 month high of $72.65. The firm has a market cap of $2.91 billion, a P/E ratio of -107.47, a P/E/G ratio of 3.07 and a beta of 1.23.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, January 29th. The software maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. CommVault Systems had a return on equity of 5.78% and a net margin of 0.57%. The business had revenue of $184.28 million during the quarter, compared to analysts’ expectations of $180.66 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts anticipate that CommVault Systems will post 0.79 EPS for the current year.

In other news, Director Gary B. Smith sold 7,500 shares of the business’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $68.00, for a total value of $510,000.00. Following the sale, the director now directly owns 36,536 shares in the company, valued at $2,484,448. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Al Bunte sold 64,167 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $67.82, for a total value of $4,351,805.94. Following the completion of the sale, the chief operating officer now owns 486,177 shares in the company, valued at $32,972,524.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,052 shares of company stock worth $4,955,806. Corporate insiders own 13.40% of the company’s stock.

Several institutional investors have recently modified their holdings of CVLT. Fort L.P. bought a new stake in shares of CommVault Systems in the fourth quarter valued at about $31,000. Captrust Financial Advisors lifted its holdings in shares of CommVault Systems by 161.5% in the fourth quarter. Captrust Financial Advisors now owns 1,080 shares of the software maker’s stock valued at $64,000 after purchasing an additional 667 shares in the last quarter. First Mercantile Trust Co. bought a new stake in shares of CommVault Systems in the fourth quarter valued at about $117,000. Quantamental Technologies LLC bought a new stake in shares of CommVault Systems in the fourth quarter valued at about $120,000. Finally, LS Investment Advisors LLC lifted its holdings in shares of CommVault Systems by 71.7% in the fourth quarter. LS Investment Advisors LLC now owns 3,835 shares of the software maker’s stock valued at $227,000 after purchasing an additional 1,601 shares in the last quarter. Institutional investors own 90.90% of the company’s stock.

About CommVault Systems

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

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Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

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