Shares of Commvault (NASDAQ:CVLT) have been assigned an average recommendation of “Buy” from the fifteen ratings firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $76.13.
Several analysts have recently issued reports on CVLT shares. BidaskClub raised Commvault from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. Mizuho reissued a “buy” rating and set a $75.00 target price on shares of Commvault in a report on Monday, April 30th. Jefferies Group reissued a “buy” rating and set a $76.00 target price on shares of Commvault in a report on Monday, April 2nd. BTIG Research increased their target price on Commvault from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 26th. Finally, Lake Street Capital reissued a “buy” rating and set a $58.00 target price (down from $60.00) on shares of Commvault in a report on Thursday, January 25th.
Commvault traded down $0.15, hitting $68.25, during trading hours on Thursday, MarketBeat.com reports. 466,496 shares of the stock were exchanged, compared to its average volume of 615,729. Commvault has a 12 month low of $66.75 and a 12 month high of $68.60.
Commvault (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, May 1st. The software maker reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The firm had revenue of $184.90 million for the quarter, compared to the consensus estimate of $187.01 million. Commvault had a negative return on equity of 0.12% and a negative net margin of 8.85%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS. equities analysts expect that Commvault will post 0.35 EPS for the current fiscal year.
Commvault announced that its board has authorized a stock repurchase 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 purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, Chairman N Robert Hammer sold 187,502 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $50.73, for a total value of $9,511,976.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Armando Geday sold 7,500 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $52.59, for a total value of $394,425.00. Following the completion of the sale, the director now directly owns 79,546 shares in the company, valued at $4,183,324.14. The disclosure for this sale can be found here. Insiders sold 428,462 shares of company stock worth $24,074,022 over the last ninety days. 13.40% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Commvault by 0.3% in the first quarter. BlackRock Inc. now owns 4,436,496 shares of the software maker’s stock valued at $253,767,000 after buying an additional 12,220 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Commvault by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,951,363 shares of the software maker’s stock valued at $102,446,000 after buying an additional 172,195 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in Commvault by 7.8% in the fourth quarter. Champlain Investment Partners LLC now owns 1,496,415 shares of the software maker’s stock valued at $78,562,000 after buying an additional 108,140 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Commvault by 7.3% in the fourth quarter. Mackenzie Financial Corp now owns 1,459,688 shares of the software maker’s stock valued at $76,634,000 after buying an additional 99,800 shares in the last quarter. Finally, ETF Managers Group LLC acquired a new stake in Commvault in the first quarter valued at about $62,229,000. 88.03% of the stock is currently owned by institutional investors and hedge funds.
Commvault Systems, Inc provides data and information management software applications and related services in the United States and internationally. The company's software suite contains solutions that are built on a single unified code base and platform to protect, manage, and access data and information.
Receive News & Ratings for Commvault Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commvault and related companies with MarketBeat.com's FREE daily email newsletter.