CommVault Systems Inc. (CVLT) Sets New 52-Week High at $52.50
CommVault Systems Inc. (NASDAQ:CVLT)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $52.50 and last traded at $52.24, with a volume of 163,768 shares trading hands. The stock had previously closed at $52.06.
Several brokerages have recently commented on CVLT. Mizuho reaffirmed a “buy” rating and set a $50.00 price objective (up from $40.00) on shares of CommVault Systems in a research note on Wednesday, April 27th. Summit Redstone reaffirmed a “buy” rating and set a $55.00 price objective on shares of CommVault Systems in a research note on Tuesday, July 5th. Zacks Investment Research raised shares of CommVault Systems from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, July 12th. Stifel Nicolaus upped their price objective on shares of CommVault Systems from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 26th. Finally, Royal Bank Of Canada upped their price objective on shares of CommVault Systems from $47.00 to $54.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 27th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $49.13.
The stock’s market cap is $2.32 billion. The company’s 50 day moving average price is $48.48 and its 200-day moving average price is $43.49.
CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $152.40 million for the quarter, compared to analysts’ expectations of $149.15 million. During the same period in the prior year, the firm posted $0.12 earnings per share. CommVault Systems’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts forecast that CommVault Systems Inc. will post $0.97 EPS for the current year.
In related news, Director Armando Geday sold 2,200 shares of CommVault Systems stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $44.41, for a total transaction of $97,702.00. Following the completion of the transaction, the director now directly owns 64,751 shares of the company’s stock, valued at approximately $2,875,591.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ronald L. Miiller sold 31,727 shares of CommVault Systems stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $50.44, for a total transaction of $1,600,309.88. Following the transaction, the senior vice president now directly owns 156,649 shares of the company’s stock, valued at $7,901,375.56. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in CVLT. Mutual of America Capital Management LLC boosted its position in CommVault Systems by 4.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 29,446 shares of the company’s stock worth $1,159,000 after buying an additional 1,354 shares in the last quarter. New York State Common Retirement Fund raised its stake in CommVault Systems by 27.7% in the fourth quarter. New York State Common Retirement Fund now owns 66,801 shares of the company’s stock valued at $2,629,000 after buying an additional 14,471 shares in the last quarter. Matarin Capital Management LLC acquired a new stake in CommVault Systems during the fourth quarter valued at approximately $5,074,000. Finally, Rail Splitter Capital Management LLC acquired a new stake in CommVault Systems during the fourth quarter valued at approximately $8,706,000.
CommVault Systems, Inc (CommVault) is a provider of data and information management software applications and related services. The Company develops market and sell data and information management software applications under the Simpana Software brand. The Company develops, markets and sells a suite of software applications and services, primarily in North America, Europe, Australia and Asia, that provides its customers with data protection, including backup and recovery; data migration and archiving; snapshot management and replication of data; integrated source, and target data deduplication; eDiscovery and compliance solutions; self-service access; a secure virtual repository using simpana contentStore; enterprise-wide search capabilities; protection, recovery and discovery of data in virtual server and cloud environments; and robust built-in analytics and troubleshooting tools.