CommVault Systems (CVLT) Downgraded by BidaskClub

BidaskClub cut shares of CommVault Systems (NASDAQ:CVLT) from a sell rating to a strong sell rating in a report issued on Thursday.

CVLT has been the subject of a number of other reports. Mizuho restated a buy rating and set a $75.00 price objective on shares of CommVault Systems in a research report on Wednesday. Mitsubishi UFJ Financial Group cut shares of CommVault Systems from an overweight rating to a neutral rating in a research report on Wednesday, October 25th. Wells Fargo & Co began coverage on shares of CommVault Systems in a research report on Tuesday, November 14th. They set an outperform rating and a $64.00 price objective for the company. Royal Bank of Canada restated a hold rating on shares of CommVault Systems in a research report on Monday, October 9th. Finally, Zacks Investment Research cut shares of CommVault Systems from a hold rating to a sell rating in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. CommVault Systems currently has an average rating of Hold and a consensus price target of $70.00.

Shares of CommVault Systems (NASDAQ CVLT) traded up $0.20 during midday trading on Thursday, reaching $52.55. 428,762 shares of the company were exchanged, compared to its average volume of 281,750. CommVault Systems has a 12-month low of $47.61 and a 12-month high of $64.60.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, October 24th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.05). CommVault Systems had a negative return on equity of 0.17% and a net margin of 0.28%. The firm had revenue of $168.14 million for the quarter, compared to analysts’ expectations of $170.15 million. During the same period last year, the company posted $0.25 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. analysts anticipate that CommVault Systems will post 0.04 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of CVLT. Schwab Charles Investment Management Inc. raised its position in shares of CommVault Systems by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 251,653 shares of the software maker’s stock valued at $14,206,000 after buying an additional 7,704 shares during the last quarter. Legal & General Group Plc raised its position in shares of CommVault Systems by 21.1% in the second quarter. Legal & General Group Plc now owns 31,144 shares of the software maker’s stock valued at $1,759,000 after buying an additional 5,434 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CommVault Systems by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,904 shares of the software maker’s stock valued at $107,000 after buying an additional 203 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of CommVault Systems by 6.0% in the second quarter. Principal Financial Group Inc. now owns 181,417 shares of the software maker’s stock valued at $10,241,000 after buying an additional 10,336 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of CommVault Systems by 2.1% in the second quarter. Wells Fargo & Company MN now owns 168,714 shares of the software maker’s stock valued at $9,525,000 after buying an additional 3,499 shares during the last quarter. Institutional investors and hedge funds own 88.33% of the company’s stock.

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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.

Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

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