CommVault Systems (NASDAQ:CVLT) Upgraded to Hold at Zacks Investment Research

CommVault Systems (NASDAQ:CVLT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday, December 26th.

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 analysts also recently issued reports about the company. Mitsubishi UFJ Financial Group downgraded CommVault Systems from an “overweight” rating to a “neutral” rating in a report on Wednesday, October 25th. UBS Group cut shares of CommVault Systems from an “overweight” rating to a “neutral” rating in a research report on Tuesday, October 24th. Jefferies Group reissued a “buy” rating on shares of CommVault Systems in a research report on Thursday, October 26th. Royal Bank of Canada reaffirmed a “hold” rating on shares of CommVault Systems in a research report on Monday, October 9th. Finally, KeyCorp reaffirmed a “buy” rating and set a $70.00 price target on shares of CommVault Systems in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. CommVault Systems presently has an average rating of “Hold” and an average target price of $70.00.

CommVault Systems (NASDAQ CVLT) opened at $53.90 on Tuesday. CommVault Systems has a 52-week low of $47.61 and a 52-week high of $64.60. The stock has a market capitalization of $2,490.00, a P/E ratio of 1,796.67, a price-to-earnings-growth ratio of 66.30 and a beta of 1.44.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, October 24th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The company had revenue of $168.14 million during the quarter, compared to analysts’ expectations of $170.15 million. CommVault Systems had a net margin of 0.28% and a negative return on equity of 0.17%. CommVault Systems’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. research analysts expect that CommVault Systems will post 0.04 earnings per share for the current year.

A number of large investors have recently modified their holdings of CVLT. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CommVault Systems by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,904 shares of the software maker’s stock worth $107,000 after buying an additional 203 shares in the last quarter. US Bancorp DE boosted its stake in CommVault Systems by 47.0% in the 2nd quarter. US Bancorp DE now owns 2,102 shares of the software maker’s stock worth $119,000 after purchasing an additional 672 shares during the period. Riverhead Capital Management LLC boosted its stake in CommVault Systems by 70.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,563 shares of the software maker’s stock worth $145,000 after purchasing an additional 1,063 shares during the period. Pacad Investment Ltd. boosted its stake in CommVault Systems by 88.9% in the 2nd quarter. Pacad Investment Ltd. now owns 3,400 shares of the software maker’s stock worth $192,000 after purchasing an additional 1,600 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in shares of CommVault Systems during the 3rd quarter valued at $201,000. Hedge funds and other institutional investors own 88.33% of the company’s stock.

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