CommVault Systems (CVLT) Upgraded at Zacks Investment Research

CommVault Systems (NASDAQ:CVLT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, March 9th.

According to Zacks, “CommVault provides Unified Data Management solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. The CommVault QiNetix platform, based on CommVault’s Common Technology Engine, integrates Galaxy backup and recovery, snapshot management and recovery, remote replication, active data migration and archiving, e-mail compliance, enterprise service level management and reporting and storage resource management software solutions. The QiNetix unified approach is designed to allow customers to add integrate QiNetix components, at a fraction of the time, effort and money required by separate point products. “

Several other equities analysts have also commented on CVLT. Mizuho reissued a “buy” rating and issued a $75.00 target price on shares of CommVault Systems in a report on Tuesday, January 23rd. BidaskClub lowered CommVault Systems from a “sell” rating to a “strong sell” rating in a report on Thursday, January 18th. Lake Street Capital reissued a “buy” rating and set a $58.00 price target (down previously from $60.00) on shares of CommVault Systems in a report on Thursday, January 25th. Finally, Wells Fargo started coverage on CommVault Systems in a report on Tuesday, November 14th. They set an “outperform” rating and a $64.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $69.78.

Shares of CommVault Systems (NASDAQ:CVLT) traded up $1.45 during trading on Friday, reaching $58.55. The company had a trading volume of 2,753,602 shares, compared to its average volume of 515,855. CommVault Systems has a 52 week low of $48.30 and a 52 week high of $64.60.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Wednesday, January 24th. The software maker reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $180.37 million for the quarter, compared to analyst estimates of $182.01 million. CommVault Systems had a positive return on equity of 0.32% and a negative net margin of 8.30%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. analysts anticipate that CommVault Systems will post 0.03 EPS for the current fiscal year.

CommVault Systems announced that its board has approved a stock buyback program on Wednesday, January 24th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the software maker to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other CommVault Systems news, Chairman N Robert Hammer sold 187,502 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $50.73, for a total value of $9,511,976.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert F. Kurimsky sold 7,500 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $50.32, for a total transaction of $377,400.00. Following the completion of the transaction, the director now owns 62,339 shares in the company, valued at approximately $3,136,898.48. The disclosure for this sale can be found here. Insiders sold a total of 289,737 shares of company stock valued at $14,770,440 over the last ninety days. 13.40% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB acquired a new stake in shares of CommVault Systems in the 4th quarter valued at about $238,000. Ashford Capital Management Inc. grew its position in shares of CommVault Systems by 79.2% during the 4th quarter. Ashford Capital Management Inc. now owns 244,807 shares of the software maker’s stock valued at $12,852,000 after buying an additional 108,198 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of CommVault Systems by 17.8% during the 4th quarter. Sterling Capital Management LLC now owns 41,405 shares of the software maker’s stock valued at $2,174,000 after buying an additional 6,258 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in shares of CommVault Systems by 4.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 70,375 shares of the software maker’s stock valued at $3,695,000 after buying an additional 2,802 shares during the last quarter. Finally, MetLife Investment Advisors LLC bought a new stake in shares of CommVault Systems during the 4th quarter valued at about $2,416,000. Institutional investors and hedge funds own 90.07% of the company’s stock.

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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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