CommVault Systems (CVLT) Upgraded by Zacks Investment Research to “Buy”

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Zacks Investment Research upgraded shares of CommVault Systems (NASDAQ:CVLT) from a hold rating to a buy rating in a report released on Monday morning, Zacks.com reports. They currently have $71.00 target price on the software maker’s stock.

According to Zacks, “CommVault provides Unified Data Management solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. The CommVault QiNetix platform, based on CommVault’s Common Technology Engine, integrates Galaxy backup and recovery, snapshot management and recovery, remote replication, active data migration and archiving, e-mail compliance, enterprise service level management and reporting and storage resource management software solutions. The QiNetix unified approach is designed to allow customers to add integrate QiNetix components, at a fraction of the time, effort and money required by separate point products. “

CVLT has been the subject of several other research reports. BidaskClub upgraded CommVault Systems from a buy rating to a strong-buy rating in a research report on Friday, January 11th. Piper Jaffray Companies downgraded CommVault Systems from an overweight rating to a neutral rating and set a $66.00 price objective for the company. in a research report on Monday, February 11th. ValuEngine upgraded CommVault Systems from a hold rating to a buy rating in a research report on Thursday, December 20th. Finally, Lake Street Capital lifted their price objective on CommVault Systems to $69.00 and gave the company a buy rating in a research report on Wednesday, January 30th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $75.13.

Shares of CVLT opened at $63.57 on Monday. CommVault Systems has a 52-week low of $51.53 and a 52-week high of $72.65. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 131.52, a price-to-earnings-growth ratio of 3.05 and a beta of 1.23.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, January 29th. The software maker reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.12. CommVault Systems had a return on equity of 5.78% and a net margin of 0.57%. The firm had revenue of $184.28 million during the quarter, compared to the consensus estimate of $180.66 million. During the same quarter in the previous year, the company posted $0.30 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts expect that CommVault Systems will post 0.79 earnings per share for the current year.

In other news, COO Al Bunte sold 64,167 shares of the business’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $67.82, for a total transaction of $4,351,805.94. Following the completion of the sale, the chief operating officer now owns 486,177 shares in the company, valued at $32,972,524.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gary B. Smith sold 7,500 shares of the business’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $68.00, for a total value of $510,000.00. Following the sale, the director now owns 36,536 shares of the company’s stock, valued at approximately $2,484,448. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,052 shares of company stock valued at $4,955,806. 13.40% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its stake in shares of CommVault Systems by 161.5% during the fourth quarter. Captrust Financial Advisors now owns 1,080 shares of the software maker’s stock worth $64,000 after purchasing an additional 667 shares during the period. Vanguard Group Inc. grew its stake in shares of CommVault Systems by 1.6% during the third quarter. Vanguard Group Inc. now owns 3,784,014 shares of the software maker’s stock worth $264,880,000 after purchasing an additional 57,893 shares during the period. MetLife Investment Advisors LLC grew its stake in shares of CommVault Systems by 15.3% during the third quarter. MetLife Investment Advisors LLC now owns 51,370 shares of the software maker’s stock worth $3,596,000 after purchasing an additional 6,830 shares during the period. Strs Ohio grew its stake in shares of CommVault Systems by 1.5% during the fourth quarter. Strs Ohio now owns 19,700 shares of the software maker’s stock worth $1,164,000 after purchasing an additional 300 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of CommVault Systems during the third quarter worth $11,353,000. Institutional investors own 90.68% of the company’s stock.

About CommVault Systems

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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