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. “
Other equities research analysts have also issued reports about the company. Royal Bank of Canada set a $50.00 price target on CommVault Systems and gave the company a hold rating in a research report on Wednesday, July 31st. BidaskClub lowered CommVault Systems from a hold rating to a sell rating in a research report on Wednesday, August 7th. Jefferies Financial Group lowered their price target on CommVault Systems to $65.00 and set a buy rating for the company in a research report on Tuesday, April 30th. They noted that the move was a valuation call. Lake Street Capital lowered CommVault Systems from a buy rating to a hold rating and lowered their price target for the company from $69.00 to $60.00 in a research report on Tuesday, April 30th. Finally, Mitsubishi UFJ Financial Group lowered their price target on CommVault Systems from $74.00 to $67.00 and set an overweight rating for the company in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $62.83.
CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $162.20 million for the quarter, compared to analyst estimates of $170.53 million. CommVault Systems had a return on equity of 6.57% and a net margin of 0.76%. CommVault Systems’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. Equities analysts anticipate that CommVault Systems will post 0.24 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVLT. BlackRock Inc. increased its position in shares of CommVault Systems by 1.6% during the 1st quarter. BlackRock Inc. now owns 4,673,251 shares of the software maker’s stock valued at $302,546,000 after purchasing an additional 73,168 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of CommVault Systems by 46.8% during the 2nd quarter. Mackenzie Financial Corp now owns 2,188,361 shares of the software maker’s stock valued at $108,586,000 after purchasing an additional 697,987 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of CommVault Systems by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,866,287 shares of the software maker’s stock valued at $92,605,000 after purchasing an additional 6,200 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of CommVault Systems by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,032,948 shares of the software maker’s stock valued at $51,255,000 after purchasing an additional 110,074 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in shares of CommVault Systems by 68.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 963,950 shares of the software maker’s stock valued at $47,831,000 after purchasing an additional 392,043 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.
CommVault Systems Company Profile
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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