CommVault Systems, Inc. (CVLT) Stock Rating Lowered by BidaskClub

CommVault Systems, Inc. (NASDAQ:CVLT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, August 1st.

CVLT has been the subject of several other research reports. Zacks Investment Research lowered shares of CommVault Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Mizuho reaffirmed a “buy” rating and set a $62.00 target price on shares of CommVault Systems in a research note on Tuesday, June 20th. Lake Street Capital raised shares of CommVault Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, May 3rd. TheStreet raised shares of CommVault Systems from a “c” rating to a “b” rating in a research note on Monday, April 24th. Finally, Mitsubishi UFJ Financial Group set a $70.00 target price on shares of CommVault Systems and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $67.00.

CommVault Systems (CVLT) opened at 58.30 on Tuesday. The company has a market cap of $2.65 billion, a PE ratio of 1022.81 and a beta of 1.45. CommVault Systems has a 52-week low of $47.61 and a 52-week high of $64.60. The firm’s 50 day moving average is $58.99 and its 200 day moving average is $54.34.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 25th. The software maker reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The company had revenue of $165.97 million during the quarter, compared to analyst estimates of $159.92 million. CommVault Systems had a net margin of 0.35% and a return on equity of 0.30%. CommVault Systems’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. Analysts forecast that CommVault Systems will post $1.22 EPS for the current fiscal year.

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In other CommVault Systems news, Director Armando Geday sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $55.56, for a total transaction of $416,700.00. Following the sale, the director now owns 76,139 shares of the company’s stock, valued at $4,230,282.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 5,246 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $55.06, for a total transaction of $288,844.76. Following the sale, the insider now directly owns 20,822 shares in the company, valued at approximately $1,146,459.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,993 shares of company stock worth $4,841,639. 13.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new stake in CommVault Systems during the second quarter worth $1,688,000. The Manufacturers Life Insurance Company raised its position in shares of CommVault Systems by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 90,154 shares of the software maker’s stock worth $5,090,000 after buying an additional 937 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of CommVault Systems during the second quarter worth about $481,000. State Street Corp raised its position in shares of CommVault Systems by 3.8% in the second quarter. State Street Corp now owns 1,427,204 shares of the software maker’s stock worth $80,565,000 after buying an additional 52,276 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in shares of CommVault Systems during the second quarter worth about $2,426,000. 85.44% of the stock is currently owned by institutional investors.

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