CommVault Systems (CVLT) Stock Rating Lowered by Zacks Investment Research

CommVault Systems (NASDAQ:CVLT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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. “

Other research analysts also recently issued research reports about the company. BidaskClub raised CommVault Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 29th. ValuEngine raised CommVault Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Finally, JMP Securities downgraded CommVault Systems from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 30th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. CommVault Systems currently has a consensus rating of “Buy” and a consensus price target of $76.14.

NASDAQ:CVLT traded up $0.27 during trading hours on Friday, hitting $61.08. 227,289 shares of the stock were exchanged, compared to its average volume of 455,609. CommVault Systems has a twelve month low of $48.35 and a twelve month high of $72.65. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -103.53, a P/E/G ratio of 6.74 and a beta of 1.19.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 30th. The software maker reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. CommVault Systems had a positive return on equity of 2.96% and a negative net margin of 9.61%. The firm had revenue of $169.08 million for the quarter, compared to the consensus estimate of $179.08 million. During the same quarter in the prior year, the business earned $0.21 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts forecast that CommVault Systems will post 0.57 EPS for the current fiscal year.

In other news, CEO N Robert Hammer sold 180,000 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $57.33, for a total value of $10,319,400.00. Following the transaction, the chief executive officer now owns 2,799,411 shares of the company’s stock, valued at approximately $160,490,232.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 13.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of CVLT. FMR LLC lifted its stake in shares of CommVault Systems by 28.8% in the 3rd quarter. FMR LLC now owns 2,301,297 shares of the software maker’s stock valued at $161,091,000 after purchasing an additional 513,975 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in shares of CommVault Systems by 196.8% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 430,530 shares of the software maker’s stock valued at $30,137,000 after purchasing an additional 285,486 shares during the period. Prudential Financial Inc. lifted its stake in shares of CommVault Systems by 977.0% in the 3rd quarter. Prudential Financial Inc. now owns 313,473 shares of the software maker’s stock valued at $21,943,000 after purchasing an additional 284,366 shares during the period. BlackRock Inc. lifted its stake in shares of CommVault Systems by 5.7% in the 2nd quarter. BlackRock Inc. now owns 4,691,145 shares of the software maker’s stock valued at $308,910,000 after purchasing an additional 254,649 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of 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 purchasing an additional 203,772 shares during the period. 89.40% of the stock is currently owned by institutional investors.

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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