CommVault Systems, Inc. (NASDAQ:CVLT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, July 19th.
According to Zacks, “CommVault provides Unified Data Management solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. The CommVault QiNetix platform, based on CommVault’s Common Technology Engine, integrates Galaxy backup and recovery, snapshot management and recovery, remote replication, active data migration and archiving, e-mail compliance, enterprise service level management and reporting and storage resource management software solutions. The QiNetix unified approach is designed to allow customers to add integrate QiNetix components, at a fraction of the time, effort and money required by separate point products. “
A number of other equities research analysts have also weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $67.00 price target on shares of CommVault Systems in a report on Friday, July 14th. BidaskClub lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Mizuho reissued a “buy” rating and set a $62.00 price objective on shares of CommVault Systems in a report on Tuesday, June 20th. TheStreet lowered shares of CommVault Systems from a “b” rating to a “c” rating in a report on Monday, June 5th. Finally, ValuEngine raised shares of CommVault Systems from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. CommVault Systems presently has a consensus rating of “Buy” and a consensus price target of $67.00.
CommVault Systems (NASDAQ CVLT) opened at 60.40 on Wednesday. The firm has a market cap of $2.75 billion, a P/E ratio of 1059.65 and a beta of 1.45. The company’s 50 day moving average is $58.23 and its 200-day moving average is $53.79. CommVault Systems has a 52 week low of $47.61 and a 52 week high of $64.60.
CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 25th. The software maker reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. The business had revenue of $165.97 million during the quarter, compared to analyst estimates of $159.92 million. CommVault Systems had a net margin of 0.35% and a return on equity of 0.30%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. Equities analysts expect that CommVault Systems will post $1.22 earnings per share for the current year.
In other news, SVP Ronald L. Miiller sold 90,500 shares of CommVault Systems stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $57.50, for a total value of $5,203,750.00. Following the completion of the transaction, the senior vice president now directly owns 137,409 shares of the company’s stock, valued at approximately $7,901,017.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brian Carolan sold 8,000 shares of CommVault Systems stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $62.95, for a total transaction of $503,600.00. Following the completion of the transaction, the vice president now directly owns 82,471 shares of the company’s stock, valued at $5,191,549.45. The disclosure for this sale can be found here. Insiders sold a total of 146,123 shares of company stock valued at $8,431,089 over the last ninety days. Company insiders own 13.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of CVLT. US Bancorp DE increased its stake in shares of CommVault Systems by 47.0% in the second quarter. US Bancorp DE now owns 2,102 shares of the software maker’s stock valued at $119,000 after buying an additional 672 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of CommVault Systems by 2.4% in the first quarter. Meadow Creek Investment Management LLC now owns 2,352 shares of the software maker’s stock valued at $120,000 after buying an additional 56 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of CommVault Systems by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 2,856 shares of the software maker’s stock valued at $145,000 after buying an additional 68 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of CommVault Systems by 22.6% in the first quarter. LS Investment Advisors LLC now owns 3,455 shares of the software maker’s stock valued at $176,000 after buying an additional 636 shares in the last quarter. Finally, OppenheimerFunds Inc. purchased a new stake in shares of CommVault Systems during the first quarter valued at $201,000. Hedge funds and other institutional investors own 88.36% of the company’s stock.
CommVault Systems Company Profile
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