BidaskClub Downgrades CommVault Systems (CVLT) to Strong Sell

CommVault Systems (NASDAQ:CVLT) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut CommVault Systems from a “hold” rating to a “strong sell” rating in a research note on Friday, October 27th. KeyCorp reaffirmed a “buy” rating and issued a $70.00 price target on shares of CommVault Systems in a research note on Friday, September 1st. Mitsubishi UFJ Financial Group cut CommVault Systems from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 25th. UBS cut CommVault Systems from an “overweight” rating to a “neutral” rating in a research note on Tuesday, October 24th. Finally, 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $70.00.

CommVault Systems (CVLT) opened at $54.00 on Friday. CommVault Systems has a 12 month low of $47.61 and a 12 month high of $64.60.

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

In related news, VP Brian Carolan sold 4,000 shares of CommVault Systems stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $61.90, for a total transaction of $247,600.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 7,260 shares of CommVault Systems stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $62.28, for a total value of $452,152.80. The disclosure for this sale can be found here. 13.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CommVault Systems by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,904 shares of the software maker’s stock valued at $107,000 after purchasing an additional 203 shares in the last quarter. US Bancorp DE boosted its position in shares of CommVault Systems by 47.0% during the second quarter. US Bancorp DE now owns 2,102 shares of the software maker’s stock valued at $119,000 after purchasing an additional 672 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of CommVault Systems by 70.9% during the second quarter. Riverhead Capital Management LLC now owns 2,563 shares of the software maker’s stock valued at $145,000 after purchasing an additional 1,063 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of CommVault Systems during the third quarter valued at approximately $201,000. Finally, Pacad Investment Ltd. boosted its position in shares of CommVault Systems by 88.9% during the second quarter. Pacad Investment Ltd. now owns 3,400 shares of the software maker’s stock valued at $192,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors own 88.39% of the company’s stock.

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CommVault Systems Company Profile

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