CommVault Systems (NASDAQ:CVLT) was downgraded by Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a report issued on Monday, The Fly reports.
Several other research firms have also recently weighed in on CVLT. Lake Street Capital boosted their price target on shares of CommVault Systems to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 30th. Zacks Investment Research cut shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. BidaskClub upgraded shares of CommVault Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, January 11th. Finally, ValuEngine upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $76.29.
Shares of NASDAQ CVLT opened at $68.36 on Monday. The stock has a market cap of $3.14 billion, a PE ratio of -115.86, a price-to-earnings-growth ratio of 5.71 and a beta of 1.21. CommVault Systems has a 1 year low of $48.35 and a 1 year high of $72.65.
CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, January 29th. The software maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. CommVault Systems had a net margin of 0.57% and a return on equity of 5.78%. The business had revenue of $184.28 million for the quarter, compared to analysts’ expectations of $180.66 million. During the same period in the previous year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that CommVault Systems will post 0.76 EPS for the current fiscal year.
In other CommVault Systems news, Director Gary B. Smith sold 7,500 shares of CommVault Systems stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $68.00, for a total value of $510,000.00. Following the sale, the director now owns 36,536 shares of the company’s stock, valued at $2,484,448. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO N Robert Hammer sold 180,000 shares of CommVault Systems stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $57.33, for a total transaction of $10,319,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,799,411 shares in the company, valued at approximately $160,490,232.63. The disclosure for this sale can be found here. Insiders own 13.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CVLT. Bank of America Corp DE raised its position in shares of CommVault Systems by 81.4% in the second quarter. Bank of America Corp DE now owns 125,294 shares of the software maker’s stock valued at $8,251,000 after purchasing an additional 56,208 shares during the period. FMR LLC grew its stake in CommVault Systems by 5.5% during the second quarter. FMR LLC now owns 1,787,322 shares of the software maker’s stock valued at $117,696,000 after acquiring an additional 93,309 shares in the last quarter. Northern Trust Corp grew its stake in CommVault Systems by 3.1% during the second quarter. Northern Trust Corp now owns 654,209 shares of the software maker’s stock valued at $43,079,000 after acquiring an additional 19,564 shares in the last quarter. Bank of Montreal Can grew its stake in CommVault Systems by 4.4% during the third quarter. Bank of Montreal Can now owns 159,943 shares of the software maker’s stock valued at $11,196,000 after acquiring an additional 6,707 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd grew its stake in CommVault Systems by 196.8% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 430,530 shares of the software maker’s stock valued at $30,137,000 after acquiring an additional 285,486 shares in the last quarter. 90.73% of the stock is currently owned by institutional investors.
About CommVault Systems
Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.
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