CommVault Systems, Inc. (NASDAQ:CVLT) shares saw an uptick in trading volume on Friday . 2,753,602 shares traded hands during mid-day trading, an increase of 378% from the previous session’s volume of 575,935 shares.The stock last traded at $58.55 and had previously closed at $57.10.
A number of research firms have recently weighed in on CVLT. BidaskClub upgraded shares of CommVault Systems from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 8th. Zacks Investment Research upgraded shares of CommVault Systems from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Mizuho reiterated a “buy” rating and issued a $75.00 price target on shares of CommVault Systems in a research report on Wednesday, January 17th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $58.00 price target (down from $60.00) on shares of CommVault Systems in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. CommVault Systems has an average rating of “Hold” and an average target price of $69.78.
CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Wednesday, January 24th. The software maker reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). CommVault Systems had a negative net margin of 8.30% and a positive return on equity of 0.32%. The firm had revenue of $180.37 million for the quarter, compared to analyst estimates of $182.01 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. equities analysts anticipate that CommVault Systems, Inc. will post 0.03 earnings per share for the current year.
In other news, Director Robert F. Kurimsky sold 7,500 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $50.32, for a total transaction of $377,400.00. Following the completion of the transaction, the director now directly owns 62,339 shares in the company, valued at $3,136,898.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman N Robert Hammer sold 187,502 shares of the company’s stock in a transaction on 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. Over the last 90 days, insiders have sold 289,737 shares of company stock valued at $14,770,440. Company insiders own 13.40% of the company’s stock.
Large investors have recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. increased its holdings in shares of CommVault Systems by 72.3% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 74,100 shares of the software maker’s stock worth $4,505,000 after buying an additional 31,100 shares in the last quarter. Cortina Asset Management LLC increased its holdings in shares of CommVault Systems by 6.1% during the third quarter. Cortina Asset Management LLC now owns 516,158 shares of the software maker’s stock worth $31,382,000 after buying an additional 29,894 shares in the last quarter. Ashford Capital Management Inc. acquired a new position in shares of CommVault Systems during the third quarter worth $8,306,000. Bank of New York Mellon Corp increased its holdings in shares of CommVault Systems by 36.9% during the third quarter. Bank of New York Mellon Corp now owns 1,779,168 shares of the software maker’s stock worth $108,173,000 after buying an additional 479,659 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of CommVault Systems during the third quarter worth $307,000. Institutional investors own 90.07% 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.
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