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.
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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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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