Commvault (NASDAQ:CVLT) has received an average rating of “Buy” from the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $74.29.
Several equities research analysts recently issued reports on CVLT shares. Zacks Investment Research raised shares of Commvault from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Mizuho reiterated a “buy” rating and issued a $75.00 target price on shares of Commvault in a report on Tuesday, January 23rd. BidaskClub downgraded shares of Commvault from a “sell” rating to a “strong sell” rating in a report on Thursday, January 18th. Wells Fargo lifted their target price on shares of Commvault from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 3rd. Finally, ValuEngine upgraded shares of Commvault from a “hold” rating to a “buy” rating in a report on Monday, April 2nd.
In other news, Director Robert F. Kurimsky sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $50.32, for a total transaction of $377,400.00. Following the transaction, the director now owns 62,339 shares in the company, valued at approximately $3,136,898.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman N Robert Hammer sold 187,502 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $50.73, for a total transaction of $9,511,976.46. The disclosure for this sale can be found here. Insiders sold a total of 439,313 shares of company stock worth $24,578,504 in the last quarter. Insiders own 13.40% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in shares of Commvault by 17.8% during the 4th 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 in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Commvault by 72.3% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 74,100 shares of the software maker’s stock valued at $4,505,000 after acquiring an additional 31,100 shares in the last quarter. BlackRock Inc. boosted its position in shares of Commvault by 2.2% during the 4th quarter. BlackRock Inc. now owns 4,424,276 shares of the software maker’s stock valued at $232,274,000 after acquiring an additional 96,629 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Commvault during the 4th quarter valued at about $260,000. Finally, New Mexico Educational Retirement Board acquired a new stake in shares of Commvault during the 4th quarter valued at about $551,000. Institutional investors own 90.07% of the company’s stock.
Shares of CVLT stock traded up $0.10 on Friday, hitting $70.65. The company’s stock had a trading volume of 300,901 shares, compared to its average volume of 645,955. Commvault has a fifty-two week low of $48.35 and a fifty-two week high of $71.30.
Commvault (NASDAQ:CVLT) last released its quarterly earnings data on Wednesday, January 24th. The software maker reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). Commvault had a negative net margin of 8.30% and a positive return on equity of 0.32%. The business had revenue of $180.37 million during the quarter, compared to analyst estimates of $182.01 million. During the same period in the previous year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. equities analysts forecast that Commvault will post 0.03 earnings per share for the current year.
Commvault declared that its Board of Directors has approved a stock repurchase program on Wednesday, January 24th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the software maker to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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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