Commvault (CVLT) Hits New 52-Week High and Low at $67.85

Shares of Commvault (NASDAQ:CVLT) hit a new 52-week high and low during mid-day trading on Thursday . The stock traded as low as $67.85 and last traded at $67.00, with a volume of 390960 shares changing hands. The stock had previously closed at $67.10.

A number of equities analysts have recently weighed in on the stock. Lake Street Capital set a $70.00 price target on shares of Commvault and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo upped their price target on shares of Commvault from $64.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday. ValuEngine raised shares of Commvault from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $76.00 price target on shares of Commvault in a research note on Monday, April 2nd. Finally, BidaskClub raised shares of Commvault from a “hold” rating to a “buy” rating in a research note on Tuesday, March 27th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Commvault currently has a consensus rating of “Buy” and an average price target of $72.44.

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The company has a market capitalization of $3,015.63, a price-to-earnings ratio of 1,327.00, a price-to-earnings-growth ratio of 10.68 and a beta of 1.15.

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

Commvault declared that its board has approved a stock buyback program on Wednesday, January 24th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the software maker to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In other Commvault news, insider Al Bunte sold 135,000 shares of the stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $65.51, for a total transaction of $8,843,850.00. Following the transaction, the insider now directly owns 561,599 shares of the company’s stock, valued at $36,790,350.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert F. Kurimsky sold 7,500 shares of the 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 transaction, the director now directly owns 62,339 shares in the company, valued at $3,136,898.48. The disclosure for this sale can be found here. Insiders have sold 433,843 shares of company stock worth $24,207,091 over the last three months. Company insiders own 13.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB acquired a new position in Commvault during the fourth quarter worth $238,000. Ashford Capital Management Inc. boosted its holdings in Commvault by 79.2% during the fourth quarter. Ashford Capital Management Inc. now owns 244,807 shares of the software maker’s stock valued at $12,852,000 after acquiring an additional 108,198 shares during the period. Sterling Capital Management LLC boosted its holdings in Commvault by 17.8% during the fourth quarter. Sterling Capital Management LLC now owns 41,405 shares of the software maker’s stock valued at $2,174,000 after acquiring an additional 6,258 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in Commvault by 4.1% during the fourth quarter. Segall Bryant & Hamill LLC now owns 70,375 shares of the software maker’s stock valued at $3,695,000 after acquiring an additional 2,802 shares during the period. Finally, MetLife Investment Advisors LLC bought a new stake in Commvault during the fourth quarter valued at about $2,416,000. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

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About Commvault

Commvault Systems, Inc provides data and information management software applications and related services in the United States and internationally. The company's software suite contains solutions that are built on a single unified code base and platform to protect, manage, and access data and information.

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