CommVault Systems, Inc. (NASDAQ:CVLT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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 recently weighed in on the company. Mizuho lifted their price target on CommVault Systems from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, January 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price target on shares of CommVault Systems in a report on Wednesday, January 25th. Finally, BTIG Research reaffirmed a “buy” rating and set a $61.00 price target on shares of CommVault Systems in a report on Tuesday, January 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $57.64.
Shares of CommVault Systems (NASDAQ:CVLT) traded down 0.10% during midday trading on Tuesday, reaching $49.25. The company’s stock had a trading volume of 338,701 shares. The stock has a market capitalization of $2.22 billion, a PE ratio of 781.75 and a beta of 1.46. CommVault Systems has a 12 month low of $39.81 and a 12 month high of $57.55. The stock’s 50 day moving average is $50.11 and its 200 day moving average is $52.44.
CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Wednesday, January 25th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. CommVault Systems had a negative return on equity of 0.53% and a net margin of 0.49%. The company earned $165.80 million during the quarter, compared to the consensus estimate of $163.53 million. During the same period in the previous year, the firm posted $0.28 earnings per share. CommVault Systems’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts forecast that CommVault Systems will post $1.00 EPS for the current fiscal year.
In other news, insider Al Bunte sold 50,000 shares of CommVault Systems stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $50.00, for a total transaction of $2,500,000.00. Following the sale, the insider now owns 524,158 shares of the company’s stock, valued at $26,207,900. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gary Merrill sold 1,467 shares of CommVault Systems stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $50.72, for a total value of $74,406.24. Following the sale, the insider now directly owns 29,716 shares in the company, valued at approximately $1,507,195.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,919 shares of company stock worth $3,452,517. Corporate insiders own 13.60% of the company’s stock.
Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of CommVault Systems during the fourth quarter valued at approximately $20,653,000. Putnam Investments LLC boosted its stake in shares of CommVault Systems by 1.6% in the fourth quarter. Putnam Investments LLC now owns 17,173 shares of the company’s stock valued at $883,000 after buying an additional 269 shares during the last quarter. Numeric Investors LLC boosted its stake in shares of CommVault Systems by 4.9% in the fourth quarter. Numeric Investors LLC now owns 17,200 shares of the company’s stock valued at $884,000 after buying an additional 800 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of CommVault Systems by 3.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 329,010 shares of the company’s stock valued at $16,911,000 after buying an additional 12,440 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of CommVault Systems by 6.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 10,200 shares of the company’s stock valued at $524,000 after buying an additional 600 shares during the last quarter. 91.11% of the stock is currently owned by hedge funds and other institutional investors.
CommVault Systems Company Profile
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