CommVault Systems (CVLT) Cut to “Market Perform” at JMP Securities

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CommVault Systems (NASDAQ:CVLT) was downgraded by equities researchers at JMP Securities from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, The Fly reports.

A number of other analysts have also recently weighed in on the stock. BidaskClub cut shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Saturday, October 6th. Zacks Investment Research cut shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, ValuEngine raised shares of CommVault Systems from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $76.57.

CVLT stock traded down $0.35 during midday trading on Tuesday, reaching $54.80. 18,614 shares of the company were exchanged, compared to its average volume of 392,825. CommVault Systems has a 1-year low of $48.35 and a 1-year high of $72.65. The stock has a market cap of $2.65 billion, a P/E ratio of -92.78, a PEG ratio of 6.13 and a beta of 1.17.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 30th. The software maker reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. CommVault Systems had a negative net margin of 9.89% and a positive return on equity of 0.72%. The company had revenue of $169.08 million for the quarter, compared to analysts’ expectations of $179.08 million. During the same quarter last year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts predict that CommVault Systems will post 0.6 EPS for the current year.

In other news, Director Vivie Lee sold 860 shares of CommVault Systems stock in a transaction on Friday, September 14th. The shares were sold at an average price of $69.75, for a total value of $59,985.00. Following the transaction, the director now directly owns 4,364 shares of the company’s stock, valued at approximately $304,389. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ronald L. Miiller sold 2,213 shares of CommVault Systems stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $65.00, for a total transaction of $143,845.00. Following the completion of the transaction, the senior vice president now directly owns 98,117 shares in the company, valued at $6,377,605. The disclosure for this sale can be found here. Insiders sold a total of 3,208 shares of company stock worth $212,560 over the last ninety days. Corporate insiders own 13.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Ardevora Asset Management LLP increased its holdings in shares of CommVault Systems by 7.3% in the 3rd quarter. Ardevora Asset Management LLP now owns 530,038 shares of the software maker’s stock valued at $37,103,000 after acquiring an additional 35,960 shares during the period. Mesirow Financial Investment Management Equity Management increased its holdings in shares of CommVault Systems by 22.4% in the 3rd quarter. Mesirow Financial Investment Management Equity Management now owns 171,110 shares of the software maker’s stock valued at $11,976,000 after acquiring an additional 31,295 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of CommVault Systems by 14.1% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 252,215 shares of the software maker’s stock valued at $17,655,000 after acquiring an additional 31,100 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of CommVault Systems by 29.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 135,507 shares of the software maker’s stock valued at $9,485,000 after acquiring an additional 30,560 shares during the period. Finally, Alps Advisors Inc. increased its holdings in shares of CommVault Systems by 27.4% in the 3rd quarter. Alps Advisors Inc. now owns 20,401 shares of the software maker’s stock valued at $1,428,000 after acquiring an additional 4,388 shares during the period. 90.63% of the stock is currently owned by institutional investors and hedge funds.

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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