CommVault Systems, Inc. (NASDAQ:CVLT) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,044,900 shares, a decline of 10.9% from the May 30th total of 1,172,700 shares. Based on an average trading volume of 521,300 shares, the short-interest ratio is presently 2.0 days. Approximately 2.5% of the shares of the company are short sold.
A number of equities analysts have commented on the company. BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. ValuEngine upgraded Yelp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Mitsubishi UFJ Financial Group decreased their target price on CommVault Systems from $74.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Jefferies Financial Group decreased their target price on CommVault Systems to $65.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. CommVault Systems has an average rating of “Hold” and an average target price of $65.40.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings in CommVault Systems by 2.6% during the fourth quarter. BlackRock Inc. now owns 4,600,083 shares of the software maker’s stock worth $271,818,000 after purchasing an additional 118,210 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in CommVault Systems by 12.6% during the fourth quarter. Bank of New York Mellon Corp now owns 760,698 shares of the software maker’s stock worth $44,948,000 after purchasing an additional 85,409 shares in the last quarter. Northern Trust Corp raised its holdings in CommVault Systems by 0.5% during the fourth quarter. Northern Trust Corp now owns 645,252 shares of the software maker’s stock worth $38,128,000 after purchasing an additional 3,522 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in CommVault Systems by 11.7% during the fourth quarter. Great West Life Assurance Co. Can now owns 24,467 shares of the software maker’s stock worth $1,344,000 after purchasing an additional 2,555 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in CommVault Systems during the fourth quarter worth approximately $2,582,000. Institutional investors and hedge funds own 89.23% of the company’s stock.
Shares of NASDAQ CVLT traded down $0.21 during midday trading on Friday, hitting $50.45. 550,242 shares of the company’s stock were exchanged, compared to its average volume of 351,690. The business’s 50 day moving average is $48.42. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 84.08, a P/E/G ratio of 7.19 and a beta of 1.16. CommVault Systems has a twelve month low of $45.53 and a twelve month high of $70.70.
CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 return on equity of 6.30% and a net margin of 0.50%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. Equities research analysts forecast that CommVault Systems will post 0.45 EPS for the current year.
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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