CommVault Systems Sees Unusually High Options Volume (CVLT)

CommVault Systems, Inc. (NASDAQ:CVLT) was the target of some unusual options trading activity on Thursday. Investors purchased 1,058 call options on the company. This represents an increase of approximately 1,456% compared to the average daily volume of 68 call options.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. grew its stake in CommVault Systems by 72.3% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 74,100 shares of the software maker’s stock valued at $4,505,000 after acquiring an additional 31,100 shares during the last quarter. Cortina Asset Management LLC grew its stake in CommVault Systems by 6.1% in the 3rd quarter. Cortina Asset Management LLC now owns 516,158 shares of the software maker’s stock valued at $31,382,000 after acquiring an additional 29,894 shares during the last quarter. Ashford Capital Management Inc. acquired a new stake in CommVault Systems in the 3rd quarter valued at about $8,306,000. Bank of New York Mellon Corp grew its stake in CommVault Systems by 36.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,779,168 shares of the software maker’s stock valued at $108,173,000 after acquiring an additional 479,659 shares during the last quarter. Finally, FMR LLC acquired a new stake in CommVault Systems in the 2nd quarter valued at about $28,624,000. 88.27% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on CVLT. Zacks Investment Research downgraded shares of CommVault Systems from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Mitsubishi UFJ Financial Group downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 25th. UBS Group downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating in a report on Tuesday, October 24th. Mizuho reiterated a “buy” rating and issued a $75.00 price target on shares of CommVault Systems in a report on Tuesday, January 23rd. Finally, Lake Street Capital reiterated a “buy” rating and issued a $58.00 price target (down previously from $60.00) on shares of CommVault Systems in a report on Thursday. Two 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’s stock. The company presently has an average rating of “Hold” and a consensus target price of $69.78.

CommVault Systems (NASDAQ:CVLT) opened at $55.90 on Friday. The stock has a market cap of $2,465.08, a PE ratio of -44.37, a PEG ratio of 73.13 and a beta of 1.44. CommVault Systems has a twelve month low of $47.61 and a twelve month high of $64.60.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data 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). The business had revenue of $180.37 million during the quarter, compared to analyst estimates of $182.01 million. CommVault Systems had a negative net margin of 8.30% and a positive return on equity of 0.32%. CommVault Systems’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. analysts expect that CommVault Systems will post 0.04 earnings per share for the current year.

CommVault Systems announced that its Board of Directors has approved a share buyback plan on Wednesday, January 24th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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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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