CommVault Systems (CVLT) Downgraded by BidaskClub to “Strong Sell”

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

Several other research firms also recently weighed in on CVLT. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $67.00 price target on shares of CommVault Systems in a research note on Monday, September 4th. Jefferies Group reaffirmed a “buy” rating on shares of CommVault Systems in a research note on Thursday, October 26th. Zacks Investment Research downgraded shares of CommVault Systems from a “hold” rating to a “strong sell” rating in a research note on Friday, October 27th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $74.00 price target on shares of CommVault Systems in a research note on Friday, September 1st. Finally, UBS downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating in a research note on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $70.00.

CommVault Systems (CVLT) traded up $0.10 on Friday, reaching $54.00. 363,360 shares of the company’s stock traded hands, compared to its average volume of 635,540. CommVault Systems has a 12-month low of $47.61 and a 12-month high of $64.60.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, October 24th. The software maker reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.05). CommVault Systems had a net margin of 0.28% and a negative return on equity of 0.17%. The company had revenue of $168.14 million during the quarter, compared to the consensus estimate of $170.15 million. During the same period last year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. equities research analysts predict that CommVault Systems will post 0.04 EPS for the current year.

In other news, VP Brian Carolan sold 4,000 shares of CommVault Systems stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $61.90, for a total transaction of $247,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Merrill sold 7,260 shares of CommVault Systems stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $62.28, for a total transaction of $452,152.80. The disclosure for this sale can be found here. 13.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CVLT. FMR LLC acquired a new position in shares of CommVault Systems during the second quarter valued at about $28,624,000. Bank of New York Mellon Corp boosted its holdings in CommVault Systems by 36.9% during the third quarter. Bank of New York Mellon Corp now owns 1,779,168 shares of the software maker’s stock worth $108,173,000 after purchasing an additional 479,659 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in CommVault Systems by 32.0% during the second quarter. Renaissance Technologies LLC now owns 1,555,213 shares of the software maker’s stock worth $87,792,000 after purchasing an additional 377,313 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in CommVault Systems during the second quarter worth about $15,546,000. Finally, Hood River Capital Management LLC purchased a new position in CommVault Systems during the third quarter worth about $10,599,000. Hedge funds and other institutional investors own 88.32% of the company’s stock.

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