Commvault Systems, Inc. (CVLT) Can’t Be Less Risky. The Stock Formed a Bullish Multiple Top Chart Pattern

October 2, 2018 - By Ash

Commvault Systems, Inc. (NASDAQ:CVLT) Logo

Investors sentiment increased to 0.99 in Q2 2018. Its up 0.29, from 0.7 in 2018Q1. It is positive, as 24 investors sold Commvault Systems, Inc. shares while 73 reduced holdings. 43 funds opened positions while 53 raised stakes. 36.85 million shares or 4.77% less from 38.70 million shares in 2018Q1 were reported.
880,110 were reported by Nomura Inc. Ardevora Asset Management Llp reported 0.91% of its portfolio in Commvault Systems, Inc. (NASDAQ:CVLT). State Board Of Administration Of Florida Retirement has invested 0.01% of its portfolio in Commvault Systems, Inc. (NASDAQ:CVLT). Captrust Fincl Advisors invested in 620 shares or 0% of the stock. Retirement System Of Alabama invested 0.06% of its portfolio in Commvault Systems, Inc. (NASDAQ:CVLT). Royal Bankshares Of Canada holds 0.01% or 436,916 shares in its portfolio. Public Employees Retirement Systems Of Ohio, a Ohio-based fund reported 896 shares. Blackrock accumulated 4.69M shares. Ing Groep Nv, Netherlands-based fund reported 6,479 shares. Los Angeles Mgmt And Equity Rech Inc reported 0.01% in Commvault Systems, Inc. (NASDAQ:CVLT). Metropolitan Life Insur has 0% invested in Commvault Systems, Inc. (NASDAQ:CVLT). Westfield Lp holds 615,984 shares or 0.3% of its portfolio. Cambiar Ltd Liability Com reported 74,982 shares. Deutsche Commercial Bank Ag owns 310,016 shares or 0.01% of their US portfolio. Envestnet Asset Mgmt Incorporated stated it has 2,386 shares or 0% of all its holdings.

Since April 2, 2018, it had 0 insider buys, and 10 selling transactions for $11.74 million activity. The insider Merrill Gary sold $887,677. The insider HAMMER N ROBERT sold $689,520. $8.84M worth of stock was sold by BUNTE AL on Tuesday, April 3. Lee Vivie sold $59,985 worth of stock or 860 shares. 101,521 Commvault Systems, Inc. (NASDAQ:CVLT) shares with value of $6.63M were sold by Miiller Ronald L.

The stock of Commvault Systems, Inc. (CVLT) shows a multiple tops pattern with $70.54 target or 4.00 % above today’s $67.83 share price. The 8 months chart pattern indicates low risk for the $3.10 billion company. It was reported on Oct, 2 by If the $70.54 price target is reached, the company will be worth $124.08 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 3.10% or $2.17 during the last trading session, reaching $67.83. About 235,063 shares traded. Commvault Systems, Inc. (NASDAQ:CVLT) has risen 14.68% since October 2, 2017 and is uptrending. It has underperformed by 0.94% the S&P500.

Analysts await Commvault Systems, Inc. (NASDAQ:CVLT) to report earnings on October, 23. They expect $0.10 earnings per share, up 266.67 % or $0.16 from last year’s $-0.06 per share. CVLT’s profit will be $4.57M for 169.58 P/E if the $0.10 EPS becomes a reality. After $0.02 actual earnings per share reported by Commvault Systems, Inc. for the previous quarter, Wall Street now forecasts 400.00 % EPS growth.

Commvault Systems, Inc. (NASDAQ:CVLT) Ratings Coverage

Among 6 analysts covering CommVault Systems (NASDAQ:CVLT), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. CommVault Systems had 7 analyst reports since April 3, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Sunday, April 8 by Mizuho. The firm has “Hold” rating given on Monday, April 23 by RBC Capital Markets. The rating was maintained by Wells Fargo on Tuesday, April 3 with “Buy”. KeyBanc Capital Markets maintained Commvault Systems, Inc. (NASDAQ:CVLT) on Tuesday, April 17 with “Overweight” rating. Wells Fargo maintained the stock with “Buy” rating in Thursday, June 7 report.

Commvault Systems, Inc. provides data and information management software applications and related services in the United States and internationally. The company has market cap of $3.10 billion. The company's software suite contains solutions that are built on a single unified code base and platform to protect, manage, and access data and information. It currently has negative earnings. It offers data protection, backup, and recovery software solutions that allow for the backup of databases, files, applications, endpoints, and virtual machines with according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports to improve backup and recovery processes.

Commvault Systems, Inc. (NASDAQ:CVLT) Institutional Positions Chart

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