CommVault Systems (NASDAQ:CVLT) Stock Rating Lowered by Wall Street Zen

Key Points

• CommVault Systems has been downgraded from a "strong-buy" rating to a "buy" rating by Wall Street Zen, reflecting changing analyst sentiment.
• The company's stock is currently trading at $183.53, down from its one-year high of $200.68, while the average target price among analysts stands at $205.63.
• Insider selling activity was noted, with both the CEO and another insider reducing their positions, indicating possible changes in investor confidence.

Wall Street Zen downgraded shares of CommVault Systems (NASDAQ:CVLT - Free Report) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Several other analysts have also commented on CVLT. Royal Bank Of Canada raised their price objective on shares of CommVault Systems from $185.00 to $217.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Wells Fargo & Company raised their price objective on CommVault Systems from $190.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Piper Sandler raised their price objective on CommVault Systems from $168.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. KeyCorp lifted their price target on CommVault Systems from $195.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Guggenheim set a $220.00 price objective on CommVault Systems in a report on Tuesday, July 29th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.63.

CommVault Systems Stock Up 1.1%

Shares of CommVault Systems stock traded up $2.11 on Friday, hitting $185.64. The stock had a trading volume of 570,172 shares, compared to its average volume of 496,299. CommVault Systems has a one year low of $128.07 and a one year high of $200.68. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 103.13 and a beta of 0.70. The stock's 50-day simple moving average is $177.71 and its two-hundred day simple moving average is $169.87.

Insider Activity at CommVault Systems

In other CommVault Systems news, insider Gary Merrill sold 1,748 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the completion of the transaction, the insider directly owned 89,923 shares in the company, valued at $15,728,431.93. This represents a 1.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanjay Mirchandani sold 1,709 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the transaction, the chief executive officer owned 469,648 shares of the company's stock, valued at $82,188,400. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new stake in shares of CommVault Systems during the 1st quarter worth approximately $243,000. Asset Management One Co. Ltd. purchased a new stake in shares of CommVault Systems during the 1st quarter worth approximately $1,229,000. Principal Financial Group Inc. raised its holdings in shares of CommVault Systems by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 122,042 shares of the software maker's stock worth $19,253,000 after acquiring an additional 1,668 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new stake in shares of CommVault Systems during the 1st quarter worth approximately $260,000. Finally, Wedge Capital Management L L P NC raised its holdings in shares of CommVault Systems by 1,936.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker's stock worth $56,850,000 after acquiring an additional 342,656 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors.

About CommVault Systems

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.