CommVault Systems, Inc. (NASDAQ:CVLT) Downgraded by BidaskClub to Sell

CommVault Systems, Inc. (NASDAQ:CVLT) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the company. Jefferies Group LLC lifted their price objective on CommVault Systems from $67.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Mizuho reaffirmed a “buy” rating and issued a $75.00 price objective (up previously from $70.00) on shares of CommVault Systems in a research report on Monday, July 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 price objective (up previously from $68.00) on shares of CommVault Systems in a research report on Wednesday, July 26th. TheStreet downgraded CommVault Systems from a “b” rating to a “c” rating in a research report on Monday, June 5th. Finally, ValuEngine raised CommVault Systems from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $67.00.

Shares of CommVault Systems (NASDAQ:CVLT) opened at 58.95 on Friday. The firm has a 50-day moving average price of $58.83 and a 200 day moving average price of $54.08. The stock has a market capitalization of $2.68 billion, a PE ratio of 1034.21 and a beta of 1.45. CommVault Systems has a one year low of $47.61 and a one year high of $64.60.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, July 25th. The software maker reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. The business had revenue of $165.97 million during the quarter, compared to the consensus estimate of $159.92 million. CommVault Systems had a return on equity of 0.30% and a net margin of 0.35%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, equities analysts expect that CommVault Systems will post $1.22 EPS for the current fiscal year.

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In other CommVault Systems news, insider Al Bunte sold 30,001 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $60.01, for a total transaction of $1,800,360.01. Following the completion of the sale, the insider now owns 474,780 shares of the company’s stock, valued at $28,491,547.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gary Merrill sold 5,246 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $55.06, for a total value of $288,844.76. Following the sale, the insider now directly owns 20,822 shares of the company’s stock, valued at approximately $1,146,459.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,747 shares of company stock valued at $4,111,755. 13.40% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. OxFORD Asset Management LLP increased its stake in CommVault Systems by 31.5% in the second quarter. OxFORD Asset Management LLP now owns 114,238 shares of the software maker’s stock worth $6,449,000 after buying an additional 27,348 shares during the period. Virtu KCG Holdings LLC purchased a new stake in CommVault Systems during the second quarter worth about $278,000. Renaissance Technologies LLC increased its stake in CommVault Systems by 32.0% in the second quarter. Renaissance Technologies LLC now owns 1,555,213 shares of the software maker’s stock worth $87,792,000 after buying an additional 377,313 shares during the period. California Public Employees Retirement System increased its stake in CommVault Systems by 1.6% in the second quarter. California Public Employees Retirement System now owns 87,900 shares of the software maker’s stock worth $4,962,000 after buying an additional 1,400 shares during the period. Finally, FMR LLC purchased a new stake in CommVault Systems during the second quarter worth about $28,624,000. 88.36% of the stock is owned by hedge funds and other institutional investors.

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