CommVault Systems, Inc. (NASDAQ:CVLT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “CommVault provides Unified Data Management solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. The CommVault QiNetix platform, based on CommVault’s Common Technology Engine, integrates Galaxy backup and recovery, snapshot management and recovery, remote replication, active data migration and archiving, e-mail compliance, enterprise service level management and reporting and storage resource management software solutions. The QiNetix unified approach is designed to allow customers to add integrate QiNetix components, at a fraction of the time, effort and money required by separate point products. “

CVLT has been the subject of several other research reports. Royal Bank Of Canada reiterated a “hold” rating and set a $58.00 price target on shares of CommVault Systems in a research note on Friday, March 31st. BidaskClub downgraded CommVault Systems from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Lake Street Capital upgraded CommVault Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, May 3rd. Jefferies Group LLC reiterated a “buy” rating and set a $67.00 price target on shares of CommVault Systems in a research note on Friday, July 14th. Finally, TheStreet downgraded CommVault Systems from a “b” rating to a “c” rating in a research note on Monday, June 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $60.22.

Shares of CommVault Systems (CVLT) traded up 1.26% during midday trading on Wednesday, hitting $60.20. 278,703 shares of the stock were exchanged. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 6020.00 and a beta of 1.45. The stock’s 50-day moving average price is $57.28 and its 200-day moving average price is $53.32. CommVault Systems has a 1-year low of $47.27 and a 1-year high of $60.55.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Wednesday, May 3rd. The software maker reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.27. The company had revenue of $172.90 million during the quarter, compared to the consensus estimate of $166.32 million. CommVault Systems had a negative return on equity of 1.04% and a net margin of 0.08%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS. On average, analysts forecast that CommVault Systems will post $1.19 EPS for the current year.

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In other news, Director Armando Geday sold 7,500 shares of CommVault Systems stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $55.56, for a total transaction of $416,700.00. Following the completion of the sale, the director now owns 76,139 shares in the company, valued at approximately $4,230,282.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Merrill sold 5,246 shares of CommVault Systems 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 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 90 days, insiders sold 177,730 shares of company stock valued at $10,133,388. 13.40% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of CVLT. Meadow Creek Investment Management LLC increased its stake in shares of CommVault Systems by 2.4% in the first quarter. Meadow Creek Investment Management LLC now owns 2,352 shares of the software maker’s stock worth $120,000 after buying an additional 56 shares during the period. Glen Harbor Capital Management LLC increased its stake in shares of CommVault Systems by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 2,856 shares of the software maker’s stock worth $145,000 after buying an additional 68 shares during the period. LS Investment Advisors LLC increased its stake in shares of CommVault Systems by 22.6% in the first quarter. LS Investment Advisors LLC now owns 3,455 shares of the software maker’s stock worth $176,000 after buying an additional 636 shares during the period. OppenheimerFunds Inc. acquired a new stake in shares of CommVault Systems during the first quarter worth about $201,000. Finally, Diversified Trust Co acquired a new stake in shares of CommVault Systems during the second quarter worth about $231,000. Hedge funds and other institutional investors own 89.04% of the company’s stock.

CommVault Systems Company Profile

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Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

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