Zacks Investment Research upgraded shares of CommVault Systems (NASDAQ:CVLT) from a strong sell rating to a hold rating in a research report released on Tuesday morning.

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. “

A number of other analysts have also recently issued reports on the company. BidaskClub cut CommVault Systems from a sell rating to a strong sell rating in a research report on Saturday, December 2nd. Wells Fargo & Co started coverage on CommVault Systems in a report on Tuesday, November 14th. They set an outperform rating and a $64.00 price target for the company. Jefferies Group reissued a buy rating on shares of CommVault Systems in a report on Thursday, October 26th. Mitsubishi UFJ Financial Group cut CommVault Systems from an overweight rating to a neutral rating in a report on Wednesday, October 25th. Finally, UBS Group cut CommVault Systems from an overweight rating to a neutral rating in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. CommVault Systems has an average rating of Buy and a consensus target price of $70.00.

Shares of CommVault Systems (CVLT) opened at $52.40 on Tuesday. CommVault Systems has a 52-week low of $47.61 and a 52-week high of $64.60. The stock has a market capitalization of $2,415.49, a P/E ratio of 1,310.33, a PEG ratio of 63.39 and a beta of 1.44.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 24th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.05). CommVault Systems had a net margin of 0.28% and a negative return on equity of 0.17%. The business had revenue of $168.14 million during the quarter, compared to analyst estimates of $170.15 million. During the same period in the previous year, the business earned $0.25 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. equities research analysts predict that CommVault Systems will post 0.04 EPS for the current fiscal year.

In other CommVault Systems news, VP Brian Carolan sold 4,000 shares of CommVault Systems stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $61.90, for a total value of $247,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Merrill sold 7,260 shares of CommVault Systems stock in a transaction on Monday, October 9th. The shares were sold at an average price of $62.28, for a total value of $452,152.80. The disclosure for this sale can be found here. 13.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CVLT. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of CommVault Systems by 0.4% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 52,321 shares of the software maker’s stock valued at $2,954,000 after purchasing an additional 200 shares during the last quarter. Arizona State Retirement System increased its stake in shares of CommVault Systems by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 17,600 shares of the software maker’s stock valued at $994,000 after purchasing an additional 200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CommVault Systems by 11.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,904 shares of the software maker’s stock valued at $107,000 after purchasing an additional 203 shares during the last quarter. Amalgamated Bank increased its stake in shares of CommVault Systems by 4.9% in the 2nd quarter. Amalgamated Bank now owns 5,631 shares of the software maker’s stock valued at $318,000 after purchasing an additional 263 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of CommVault Systems by 1.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 25,089 shares of the software maker’s stock valued at $1,415,000 after purchasing an additional 275 shares during the last quarter. 88.33% of the stock is owned by hedge funds and other institutional investors.

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CommVault Systems Company Profile

Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

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