CommVault Systems (NASDAQ:CVLT) had its price objective lowered by equities research analysts at Royal Bank of Canada from $55.00 to $45.00 in a research note issued on Wednesday, The Fly reports. Royal Bank of Canada’s price target would indicate a potential upside of 24.17% from the company’s current price.
Several other equities research analysts also recently issued reports on CVLT. ValuEngine downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Lake Street Capital cut their target price on CommVault Systems from $52.00 to $44.00 and set a “hold” rating for the company in a research note on Wednesday. Needham & Company LLC lowered their price objective on shares of CommVault Systems from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday. BidaskClub cut shares of CommVault Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, May 6th. Finally, TheStreet lowered CommVault Systems from a “c-” rating to a “d+” rating in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. CommVault Systems presently has a consensus rating of “Hold” and a consensus target price of $50.33.
Shares of NASDAQ CVLT traded down $1.07 during midday trading on Wednesday, reaching $36.24. 14,610 shares of the company’s stock were exchanged, compared to its average volume of 706,818. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market capitalization of $2.09 billion, a PE ratio of -98.16, a price-to-earnings-growth ratio of 11.68 and a beta of 0.76. CommVault Systems has a 52-week low of $24.26 and a 52-week high of $51.90. The business’s fifty day moving average price is $40.50 and its two-hundred day moving average price is $44.61.
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CommVault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, May 12th. The software maker reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). CommVault Systems had a positive return on equity of 5.68% and a negative net margin of 2.44%. The firm had revenue of $164.80 million for the quarter, compared to analyst estimates of $173.03 million. During the same period in the previous year, the firm earned $0.51 earnings per share. CommVault Systems’s revenue was down 9.2% on a year-over-year basis. Analysts predict that CommVault Systems will post 0.48 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of CVLT. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of CommVault Systems by 763.8% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 67,256 shares of the software maker’s stock worth $3,002,000 after buying an additional 59,470 shares during the last quarter. State Street Corp raised its position in CommVault Systems by 6.1% during the third quarter. State Street Corp now owns 1,309,112 shares of the software maker’s stock valued at $58,530,000 after purchasing an additional 74,867 shares during the period. Bank of Montreal Can raised its stake in shares of CommVault Systems by 48.4% in the fourth quarter. Bank of Montreal Can now owns 209,377 shares of the software maker’s stock valued at $9,347,000 after acquiring an additional 68,244 shares during the period. Alliancebernstein L.P. boosted its position in shares of CommVault Systems by 17.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,514,233 shares of the software maker’s stock valued at $112,235,000 after buying an additional 376,325 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in CommVault Systems during the 4th quarter valued at $371,000. Institutional investors own 96.39% 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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