CommVault Systems, Inc. (NASDAQ:CVLT) has earned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $69.33.
A number of analysts have commented on CVLT shares. Wells Fargo & Co started coverage on shares of CommVault Systems in a report on Tuesday, November 14th. They set an “outperform” rating and a $64.00 target price for the company. BidaskClub cut shares of CommVault Systems from a “sell” rating to a “strong sell” rating in a report on Saturday, December 2nd. Zacks Investment Research raised shares of CommVault Systems from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 26th. Mizuho reaffirmed a “buy” rating and set a $75.00 target price on shares of CommVault Systems in a report on Wednesday, January 17th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $58.00 target price (down from $60.00) on shares of CommVault Systems in a report on Thursday, January 25th.
CommVault Systems (NASDAQ:CVLT) traded down $1.02 on Friday, hitting $52.70. 413,352 shares of the stock traded hands, compared to its average volume of 495,045. CommVault Systems has a 1 year low of $48.08 and a 1 year high of $64.60. The stock has a market capitalization of $2,406.66, a PE ratio of -41.83, a price-to-earnings-growth ratio of 85.68 and a beta of 1.36.
CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Wednesday, January 24th. The software maker reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). CommVault Systems had a negative net margin of 8.30% and a positive return on equity of 0.32%. The business had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $182.01 million. During the same period in the prior year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. analysts predict that CommVault Systems will post 0.03 EPS for the current year.
CommVault Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, January 24th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the software maker to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Gary B. Smith sold 7,500 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $53.50, for a total value of $401,250.00. Following the completion of the sale, the director now directly owns 44,212 shares of the company’s stock, valued at $2,365,342. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gary Merrill sold 900 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $52.25, for a total transaction of $47,025.00. Following the completion of the sale, the insider now directly owns 19,075 shares of the company’s stock, valued at $996,668.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,735 shares of company stock valued at $1,329,264. Corporate insiders own 13.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Magnetar Financial LLC purchased a new stake in shares of CommVault Systems in the third quarter worth $201,000. Teacher Retirement System of Texas purchased a new stake in shares of CommVault Systems in the third quarter worth $215,000. Xact Kapitalforvaltning AB purchased a new stake in shares of CommVault Systems in the fourth quarter worth $238,000. Virtu Financial LLC purchased a new stake in shares of CommVault Systems in the fourth quarter worth $260,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of CommVault Systems in the third quarter worth $307,000. 93.77% of the stock is owned by hedge funds and other institutional investors.
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CommVault Systems Company Profile
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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