CommVault Systems (CVLT) Downgraded to “Hold” at Zacks Investment Research

Share on StockTwits

Zacks Investment Research downgraded shares of CommVault Systems (NASDAQ:CVLT) from a buy rating to a hold rating in a report released on Monday morning, Zacks.com reports.

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 shares of CommVault Systems from a buy rating to a strong-buy rating in a research report on Friday, January 11th. Piper Jaffray Companies downgraded shares of 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. Lake Street Capital boosted their price objective on shares of CommVault Systems to $69.00 and gave the stock a buy rating in a research report on Wednesday, January 30th. Finally, ValuEngine downgraded shares of CommVault Systems from a buy rating to a hold rating in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $67.83.

Shares of NASDAQ:CVLT opened at $52.32 on Monday. The company has a market cap of $2.40 billion, a PE ratio of 87.20, a P/E/G ratio of 2.15 and a beta of 1.11. CommVault Systems has a twelve month low of $51.53 and a twelve month high of $72.65.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.22. The business had revenue of $181.40 million during the quarter, compared to the consensus estimate of $189.02 million. CommVault Systems had a net margin of 0.50% and a return on equity of 6.30%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. As a group, research analysts expect that CommVault Systems will post 1.31 earnings per share for the current fiscal year.

In related news, COO Al Bunte sold 64,167 shares of the company’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $67.82, for a total value 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 approximately $32,972,524.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 1,385 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $67.87, for a total transaction of $93,999.95. Following the completion of the sale, the insider now owns 16,152 shares of the company’s stock, valued at approximately $1,096,236.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,052 shares of company stock valued at $4,955,806. 13.40% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in CVLT. Dimensional Fund Advisors LP purchased a new stake in CommVault Systems in the 3rd quarter valued at $11,353,000. JPMorgan Chase & Co. increased its stake in CommVault Systems by 118.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 323,713 shares of the software maker’s stock valued at $22,660,000 after buying an additional 175,861 shares during the period. AQR Capital Management LLC increased its stake in CommVault Systems by 304.4% in the 3rd quarter. AQR Capital Management LLC now owns 270,716 shares of the software maker’s stock valued at $18,950,000 after buying an additional 203,772 shares during the period. Vanguard Group Inc. increased its stake in CommVault Systems by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,784,014 shares of the software maker’s stock valued at $264,880,000 after buying an additional 57,893 shares during the period. Finally, Vanguard Group Inc increased its stake in CommVault Systems by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 3,784,014 shares of the software maker’s stock valued at $264,880,000 after buying an additional 57,893 shares during the period. Hedge funds and other institutional investors own 90.74% 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.

Read More: Momentum Indicator: Relative Strength Index

Get a free copy of the Zacks research report on CommVault Systems (CVLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

Receive News & Ratings for CommVault Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommVault Systems and related companies with MarketBeat.com's FREE daily email newsletter.