BidaskClub cut shares of CommVault Systems (NASDAQ:CVLT) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning.

Several other research firms have also commented on CVLT. Royal Bank Of Canada reissued a hold rating on shares of CommVault Systems in a report on Monday, October 9th. KeyCorp reissued a buy rating and issued a $70.00 target price on shares of CommVault Systems in a report on Friday, September 1st. Piper Jaffray Companies reissued a buy rating and issued a $74.00 target price on shares of CommVault Systems in a report on Friday, September 1st. UBS lowered shares of CommVault Systems from an overweight rating to a neutral rating in a report on Tuesday, October 24th. Finally, Wells Fargo & Company began coverage on shares of CommVault Systems in a report on Tuesday, November 14th. They issued an outperform rating and a $64.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $70.00.

CommVault Systems (NASDAQ:CVLT) opened at $54.00 on Friday. CommVault Systems has a 1-year low of $47.61 and a 1-year high of $64.60.

CommVault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, October 24th. The software maker reported $0.21 EPS 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 firm had revenue of $168.14 million during the quarter, compared to the consensus estimate of $170.15 million. During the same period in the prior year, the business earned $0.25 earnings per share. CommVault Systems’s quarterly revenue was up 5.5% compared to the same quarter last year. equities research analysts forecast that CommVault Systems will post 0.04 earnings per share for the current fiscal year.

In related news, 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 transaction of $452,152.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brian Carolan sold 4,000 shares of CommVault Systems stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $61.90, for a total transaction of $247,600.00. The disclosure for this sale can be found here. Insiders own 13.40% of the company’s stock.

A number of large investors have recently bought and sold shares of CVLT. Capstone Asset Management Co. boosted its position in CommVault Systems by 7.3% during the 2nd quarter. Capstone Asset Management Co. now owns 4,573 shares of the software maker’s stock worth $258,000 after buying an additional 310 shares during the period. Oregon Public Employees Retirement Fund boosted its position in CommVault Systems by 4.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,377 shares of the software maker’s stock worth $868,000 after buying an additional 698 shares during the period. LS Investment Advisors LLC boosted its position in CommVault Systems by 14.4% during the 2nd quarter. LS Investment Advisors LLC now owns 3,954 shares of the software maker’s stock worth $223,000 after buying an additional 499 shares during the period. Louisiana State Employees Retirement System boosted its position in CommVault Systems by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the software maker’s stock worth $615,000 after buying an additional 300 shares during the period. Finally, State Treasurer State of Michigan boosted its position in CommVault Systems by 1.2% during the 2nd quarter. State Treasurer State of Michigan now owns 17,200 shares of the software maker’s stock worth $971,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 88.39% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was first reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://theolympiareport.com/2017/12/05/bidaskclub-lowers-commvault-systems-cvlt-to-strong-sell.html.

CommVault Systems Company Profile

Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

Receive News & Ratings for CommVault Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommVault Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.