CommVault Systems (CVLT) Sets New 1-Year Low at $47.12

CommVault Systems, Inc. (NASDAQ:CVLT) reached a new 52-week low on Tuesday . The stock traded as low as $47.12 and last traded at $47.18, with a volume of 3719 shares. The stock had previously closed at $47.38.

A number of equities research analysts have weighed in on CVLT shares. BidaskClub downgraded shares of CommVault Systems from a “sell” rating to a “strong sell” rating in a report on Wednesday. Lake Street Capital downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating and cut their price target for the company from $69.00 to $60.00 in a report on Tuesday, April 30th. Piper Jaffray Companies downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $66.00 price target for the company. in a report on Monday, February 11th. Zacks Investment Research downgraded shares of CommVault Systems from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Finally, Jefferies Financial Group cut their price target on shares of CommVault Systems to $65.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $67.83.

The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 77.93, a PEG ratio of 6.61 and a beta of 1.10.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.22. CommVault Systems had a net margin of 0.50% and a return on equity of 6.30%. The company had revenue of $181.40 million during the quarter, compared to the consensus estimate of $189.02 million. During the same period in the prior year, the company earned $0.31 EPS. CommVault Systems’s revenue was down 1.9% on a year-over-year basis. Research analysts anticipate that CommVault Systems, Inc. will post 0.45 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP raised its holdings in CommVault Systems by 798.4% during the 1st quarter. Marshall Wace LLP now owns 239,797 shares of the software maker’s stock worth $15,524,000 after buying an additional 213,106 shares during the period. Redwood Investment Management LLC raised its holdings in CommVault Systems by 24.3% during the 1st quarter. Redwood Investment Management LLC now owns 15,234 shares of the software maker’s stock worth $986,000 after buying an additional 2,975 shares during the period. Jane Street Group LLC acquired a new stake in CommVault Systems during the 1st quarter worth about $236,000. BlueCrest Capital Management Ltd acquired a new stake in CommVault Systems during the 1st quarter worth about $354,000. Finally, HighTower Advisors LLC acquired a new stake in CommVault Systems during the 1st quarter worth about $1,014,000. 89.24% of the stock is owned by institutional investors.

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About CommVault Systems (NASDAQ:CVLT)

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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