BidaskClub downgraded shares of CommVault Systems (NASDAQ:CVLT) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.
CVLT has been the topic of a number of other research reports. Mitsubishi UFJ Financial Group boosted their target price on CommVault Systems and gave the stock a neutral rating in a research note on Wednesday, July 25th. Zacks Investment Research downgraded CommVault Systems from a strong-buy rating to a hold rating in a research note on Tuesday, September 25th. Finally, ValuEngine downgraded CommVault Systems from a buy rating to a hold rating in a research note on Saturday, August 18th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $77.00.
Shares of NASDAQ CVLT opened at $63.80 on Friday. CommVault Systems has a twelve month low of $48.35 and a twelve month high of $72.65. The company has a market capitalization of $3.20 billion, a PE ratio of -108.14, a price-to-earnings-growth ratio of 7.40 and a beta of 1.17.
CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 24th. The software maker reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.09. CommVault Systems had a positive return on equity of 0.72% and a negative net margin of 9.89%. The firm had revenue of $176.18 million for the quarter, compared to the consensus estimate of $177.92 million. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that CommVault Systems will post 0.6 earnings per share for the current fiscal year.
In related news, SVP Ronald L. Miiller sold 2,213 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $65.00, for a total value of $143,845.00. Following the transaction, the senior vice president now owns 98,117 shares in the company, valued at $6,377,605. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Ronald L. Miiller sold 101,521 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $65.34, for a total value of $6,633,382.14. Following the completion of the transaction, the senior vice president now owns 140,666 shares in the company, valued at approximately $9,191,116.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,729 shares of company stock worth $6,845,943. 13.40% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of CVLT. ETF Managers Group LLC purchased a new position in CommVault Systems in the first quarter valued at approximately $62,229,000. Copper Rock Capital Partners LLC purchased a new position in CommVault Systems in the second quarter valued at approximately $25,721,000. BlackRock Inc. lifted its position in shares of CommVault Systems by 5.7% during the second quarter. BlackRock Inc. now owns 4,691,145 shares of the software maker’s stock worth $308,910,000 after acquiring an additional 254,649 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of CommVault Systems by 17.3% during the second quarter. Renaissance Technologies LLC now owns 1,599,800 shares of the software maker’s stock worth $105,347,000 after acquiring an additional 236,400 shares in the last quarter. Finally, Chartwell Investment Partners LLC purchased a new stake in shares of CommVault Systems during the second quarter worth $14,180,000. Institutional investors and hedge funds own 90.17% of the company’s stock.
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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