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Shares of CommVault Systems (NASDAQ:CVLT) were the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 2,889,674 shares, a decline of 22.6% from the July 15th total of 3,732,524 shares, AnalystRatingsNetwork.com reports. Currently, 6.9% of the shares of the stock are sold short. Based on an average daily volume of 989,704 shares, the days-to-cover ratio is currently 2.9 days.

Separately, analysts at Goldman Sachs cut their price target on shares of CommVault Systems from $60.00 to $58.00 in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $62.00.

CommVault Systems (NASDAQ:CVLT) opened at 52.88 on Friday. CommVault Systems has a 52-week low of $45.20 and a 52-week high of $90.00. The stock has a 50-day moving average of $49.44 and a 200-day moving average of $57.29. The company has a market cap of $2.396 billion and a P/E ratio of 40.73.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.41 by $0.03. The company had revenue of $152.60 million for the quarter, compared to the consensus estimate of $151.00 million. During the same quarter last year, the company posted $0.40 earnings per share. CommVault Systems’s revenue was up 13.5% compared to the same quarter last year. On average, analysts predict that CommVault Systems will post $2.04 earnings per share for the current fiscal year.

CommVault Systems, Inc (NASDAQ:CVLT) is a provider of data and information management software applications and related services.

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