CommVault Systems (NASDAQ:CVLT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $71.00 price objective on the software maker’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 18.73% from the company’s previous close.
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. “
Other research analysts have also issued reports about the company. BidaskClub upgraded CommVault Systems from a “hold” rating to a “buy” rating in a research report on Saturday, July 7th. ValuEngine upgraded CommVault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Finally, Mitsubishi UFJ Financial Group increased their price objective on CommVault Systems and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $76.57.
Shares of CVLT opened at $59.80 on Tuesday. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -104.73, a PEG ratio of 7.40 and a beta of 1.17. CommVault Systems has a 52 week low of $48.35 and a 52 week high of $72.65.
CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, July 24th. The software maker reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.09. The firm had revenue of $176.18 million for the quarter, compared to analyst estimates of $177.92 million. CommVault Systems had a positive return on equity of 0.72% and a negative net margin of 9.89%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. On average, equities research analysts predict that CommVault Systems will post 0.6 earnings per share for the current fiscal year.
In other news, SVP Ronald L. Miiller sold 101,521 shares of the stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $65.34, for a total value of $6,633,382.14. Following the transaction, the senior vice president now owns 140,666 shares of the company’s stock, valued at approximately $9,191,116.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Vivie Lee sold 860 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $69.75, for a total value of $59,985.00. Following the completion of the transaction, the director now directly owns 4,364 shares in the company, valued at approximately $304,389. The disclosure for this sale can be found here. In the last three months, insiders sold 104,729 shares of company stock worth $6,845,943. 13.40% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. BlueMountain Capital Management LLC lifted its stake in shares of CommVault Systems by 134.5% in the 2nd quarter. BlueMountain Capital Management LLC now owns 2,214 shares of the software maker’s stock valued at $146,000 after purchasing an additional 1,270 shares during the period. NumerixS Investment Technologies Inc acquired a new position in shares of CommVault Systems in the 2nd quarter valued at $160,000. Cubist Systematic Strategies LLC acquired a new position in shares of CommVault Systems in the 1st quarter valued at $171,000. Oakbrook Investments LLC acquired a new position in shares of CommVault Systems in the 2nd quarter valued at $211,000. Finally, Brown Advisory Inc. acquired a new position in shares of CommVault Systems in the 2nd quarter valued at $217,000. 90.17% 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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