CommVault Systems (NASDAQ:CVLT) Upgraded to “Hold” at Zacks Investment Research

CommVault Systems (NASDAQ:CVLT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, December 26th.

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. “

CVLT has been the subject of several other reports. BidaskClub downgraded CommVault Systems from a “sell” rating to a “strong sell” rating in a report on Saturday, December 2nd. Wells Fargo & Co started coverage on CommVault Systems in a report on Tuesday, November 14th. They set an “outperform” rating and a $64.00 price target for the company. Piper Jaffray Companies restated a “buy” rating and set a $74.00 price target on shares of CommVault Systems in a report on Friday, September 1st. KeyCorp reaffirmed a “buy” rating and set a $70.00 price objective on shares of CommVault Systems in a research report on Friday, September 1st. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $67.00 price objective on shares of CommVault Systems in a research report on Monday, September 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. CommVault Systems presently has an average rating of “Hold” and an average target price of $70.00.

CommVault Systems (NASDAQ:CVLT) traded down $0.30 on Tuesday, reaching $52.35. The company’s stock had a trading volume of 514,627 shares, compared to its average volume of 381,850. CommVault Systems has a twelve month low of $47.61 and a twelve month high of $64.60. The company has a market capitalization of $2,403.95, a P/E ratio of 1,309.08, a price-to-earnings-growth ratio of 63.09 and a beta of 1.44.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, October 24th. The software maker reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.05). CommVault Systems had a net margin of 0.28% and a negative return on equity of 0.17%. The company had revenue of $168.14 million for the quarter, compared to the consensus estimate of $170.15 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. CommVault Systems’s revenue was up 5.5% compared to the same quarter last year. sell-side analysts anticipate that CommVault Systems will post 0.04 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its position in CommVault Systems by 1,529.5% in the third quarter. Public Employees Retirement System of Ohio now owns 19,326 shares of the software maker’s stock worth $1,175,000 after purchasing an additional 18,140 shares during the last quarter. GSA Capital Partners LLP boosted its position in CommVault Systems by 117.5% in the third quarter. GSA Capital Partners LLP now owns 21,843 shares of the software maker’s stock worth $1,328,000 after purchasing an additional 11,801 shares during the last quarter. Ashford Capital Management Inc. purchased a new position in CommVault Systems in the third quarter worth about $8,306,000. Sterling Capital Management LLC boosted its position in CommVault Systems by 15.9% in the third quarter. Sterling Capital Management LLC now owns 35,147 shares of the software maker’s stock worth $2,137,000 after purchasing an additional 4,827 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in CommVault Systems by 3.2% in the third quarter. California Public Employees Retirement System now owns 90,726 shares of the software maker’s stock worth $5,516,000 after purchasing an additional 2,826 shares during the last quarter. 88.33% of the stock is currently owned by institutional investors and hedge funds.

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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.

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