CommVault Systems, Inc. (NASDAQ:CVLT) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 959,333 shares, a decline of 31.7% from the May 31st total of 1,404,576 shares. Based on an average daily volume of 495,194 shares, the days-to-cover ratio is currently 1.9 days. Currently, 2.3% of the company’s stock are sold short.
CVLT has been the subject of a number of recent research reports. Lake Street Capital set a $70.00 price objective on CommVault Systems and gave the company a “buy” rating in a research note on Tuesday, April 3rd. ValuEngine upgraded CommVault Systems from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded CommVault Systems from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Jefferies Financial Group lifted their price objective on CommVault Systems to $80.00 and gave the company a “buy” rating in a research note on Tuesday, May 1st. Finally, BidaskClub upgraded CommVault Systems from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 8th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. CommVault Systems currently has an average rating of “Buy” and a consensus target price of $75.10.
Shares of CommVault Systems opened at $65.85 on Friday, Marketbeat.com reports. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -111.61, a P/E/G ratio of 14.05 and a beta of 1.15. CommVault Systems has a 12-month low of $48.35 and a 12-month high of $72.65.
CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, May 1st. The software maker reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.02). CommVault Systems had a negative net margin of 8.85% and a negative return on equity of 0.12%. The company had revenue of $184.90 million for the quarter, compared to analysts’ expectations of $187.01 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. equities research analysts forecast that CommVault Systems will post 0.34 EPS for the current fiscal year.
In related news, VP Brian Carolan sold 5,470 shares of CommVault Systems stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $67.90, for a total transaction of $371,413.00. Following the sale, the vice president now directly owns 88,404 shares in the company, valued at $6,002,631.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Merrill sold 13,474 shares of CommVault Systems stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $68.25, for a total value of $919,600.50. Following the sale, the insider now owns 21,537 shares in the company, valued at $1,469,900.25. The disclosure for this sale can be found here. Insiders have sold 206,183 shares of company stock worth $13,780,501 over the last 90 days. 13.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of CommVault Systems by 0.3% in the first quarter. BlackRock Inc. now owns 4,436,496 shares of the software maker’s stock worth $253,767,000 after purchasing an additional 12,220 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of CommVault Systems by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,951,363 shares of the software maker’s stock worth $102,446,000 after purchasing an additional 172,195 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of CommVault Systems by 7.3% in the fourth quarter. Mackenzie Financial Corp now owns 1,459,688 shares of the software maker’s stock worth $76,634,000 after purchasing an additional 99,800 shares during the last quarter. ETF Managers Group LLC purchased a new position in shares of CommVault Systems in the first quarter worth $62,229,000. Finally, Victory Capital Management Inc. raised its stake in shares of CommVault Systems by 0.7% in the first quarter. Victory Capital Management Inc. now owns 825,011 shares of the software maker’s stock worth $47,191,000 after purchasing an additional 5,623 shares during the last quarter. Hedge funds and other institutional investors own 93.53% of the company’s stock.
CommVault Systems Company Profile
Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.
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