News stories about CommVault Systems (NASDAQ:CVLT) have trended positive on Wednesday, according to Accern Sentiment Analysis. The research group identifies positive and negative news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. CommVault Systems earned a news sentiment score of 0.28 on Accern’s scale. Accern also assigned press coverage about the software maker an impact score of 46.7933144162769 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s analysis:
Shares of CommVault Systems (NASDAQ:CVLT) opened at $52.55 on Wednesday. CommVault Systems has a 1-year low of $48.08 and a 1-year high of $64.60. The firm has a market capitalization of $2,283.07, a PE ratio of -41.71, a price-to-earnings-growth ratio of 81.28 and a beta of 1.31.
CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Wednesday, January 24th. The software maker reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). CommVault Systems had a positive return on equity of 0.32% and a negative net margin of 8.30%. The company had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $182.01 million. During the same quarter last year, the company earned $0.28 EPS. CommVault Systems’s revenue for the quarter was up 8.0% compared to the same quarter last year. analysts forecast that CommVault Systems will post 0.03 earnings per share for the current year.
CommVault Systems announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 24th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded CommVault Systems from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. BidaskClub upgraded CommVault Systems from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Wells Fargo & Co assumed coverage on CommVault Systems in a report on Tuesday, November 14th. They issued an “outperform” rating and a $64.00 price objective on the stock. Mizuho reiterated a “buy” rating and issued a $75.00 price objective on shares of CommVault Systems in a report on Wednesday, January 17th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $58.00 price objective (down previously from $60.00) on shares of CommVault Systems in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $69.78.
In other news, insider Al Bunte sold 70,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $50.74, for a total transaction of $3,551,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman N Robert Hammer sold 187,502 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $50.73, for a total value of $9,511,976.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 289,737 shares of company stock worth $14,770,440. 13.40% of the stock is owned by company insiders.
About CommVault Systems
Commvault Systems, Inc (Commvault) is a provider of data and information management software applications and related services. The Company develops, markets and sells a suite of software applications and services, primarily in North America, Europe, Australia and Asia, that provides its customers with data protection solutions supporting all operating systems, applications, and databases on virtual and physical servers, Network Attached Storage (NAS) shares, cloud-based infrastructures, and mobile devices; management through a single console; multiple protection methods, including backup and archive, snapshot management, replication, and content indexing for eDiscovery; storage management using deduplication for disk, tape and cloud; integration with the storage arrays; complete virtual infrastructure management supporting multiple hypervisors; security capabilities to limit access to critical data, and policy-based data management.