Lake Street Capital restated their buy rating on shares of CommVault Systems (NASDAQ:CVLT) in a research report sent to investors on Thursday, January 25th, MarketBeat reports. They currently have a $58.00 price target on the software maker’s stock, down from their prior price target of $60.00.
A number of other equities analysts have also recently commented on the company. Mizuho reissued a buy rating and set a $75.00 price target on shares of CommVault Systems in a report on Tuesday, January 23rd. BidaskClub cut CommVault Systems from a sell rating to a strong sell rating in a report on Thursday, January 18th. Zacks Investment Research cut CommVault Systems from a hold rating to a sell rating in a report on Wednesday, January 10th. Wells Fargo & Co initiated coverage on CommVault Systems in a research report on Tuesday, November 14th. They issued an outperform rating and a $64.00 price target on the stock. Finally, Jefferies Group reiterated a buy rating on shares of CommVault Systems in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. CommVault Systems has a consensus rating of Hold and a consensus price target of $69.78.
CommVault Systems (NASDAQ CVLT) opened at $50.55 on Thursday. The company has a market capitalization of $2,330.00, a P/E ratio of -39.80, a PEG ratio of 79.60 and a beta of 1.36. CommVault Systems has a one year low of $48.08 and a one year high of $64.60.
CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Wednesday, January 24th. The software maker reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). The firm had revenue of $180.37 million during the quarter, compared to the consensus estimate of $182.01 million. CommVault Systems had a negative net margin of 8.30% and a positive return on equity of 0.32%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. equities analysts expect that CommVault Systems will post 0.03 EPS for the current year.
CommVault Systems announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 24th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other CommVault Systems news, Director David F. Walker sold 5,500 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $55.48, for a total value of $305,140.00. Following the completion of the sale, the director now directly owns 42,850 shares of the company’s stock, valued at $2,377,318. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 3,335 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.40, for a total value of $181,424.00. Following the completion of the sale, the insider now directly owns 18,771 shares of the company’s stock, valued at $1,021,142.40. The disclosure for this sale can be found here. Insiders have sold 16,335 shares of company stock valued at $887,814 over the last ninety days. 13.40% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of CVLT. Riverhead Capital Management LLC boosted its stake in CommVault Systems by 70.9% during the second quarter. Riverhead Capital Management LLC now owns 2,563 shares of the software maker’s stock valued at $145,000 after buying an additional 1,063 shares during the period. Magnetar Financial LLC purchased a new stake in CommVault Systems during the third quarter valued at about $201,000. Teacher Retirement System of Texas purchased a new stake in CommVault Systems during the third quarter valued at about $215,000. Virtu Financial LLC purchased a new stake in CommVault Systems during the fourth quarter valued at about $260,000. Finally, Virtu KCG Holdings LLC purchased a new stake in CommVault Systems during the second quarter valued at about $278,000. 91.21% of the stock is owned by institutional investors.
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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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