CommVault Systems Inc. (CVLT) Sees Significant Drop in Short Interest
CommVault Systems Inc. (NASDAQ:CVLT) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 902,966 shares, a drop of 36.0% from the August 31st total of 1,411,210 shares. Based on an average daily volume of 346,699 shares, the days-to-cover ratio is currently 2.6 days. Approximately 2.2% of the shares of the company are short sold.
Shares of CommVault Systems (NASDAQ:CVLT) opened at 53.13 on Friday. The company’s market capitalization is $2.36 billion. CommVault Systems has a 12 month low of $29.41 and a 12 month high of $53.84. The firm has a 50-day moving average of $52.26 and a 200 day moving average of $46.59.
CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. CommVault Systems had a negative return on equity of 1.33% and a negative net margin of 0.10%. The company earned $152.40 million during the quarter, compared to the consensus estimate of $149.15 million. During the same period in the prior year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts expect that CommVault Systems will post $0.96 earnings per share for the current fiscal year.
In related news, SVP Ronald L. Miiller sold 31,727 shares of the firm’s stock in a transaction on 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 in the company, valued at $7,901,375.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.60% of the company’s stock.
Several large investors have recently made changes to their positions in CVLT. Bank of New York Mellon Corp increased its stake in shares of CommVault Systems by 9.2% in the second quarter. Bank of New York Mellon Corp now owns 3,013,989 shares of the company’s stock valued at $130,174,000 after buying an additional 253,997 shares during the period. Vanguard Group Inc. increased its position in CommVault Systems by 0.3% in the second quarter. Vanguard Group Inc. now owns 3,012,789 shares of the company’s stock worth $130,123,000 after buying an additional 8,172 shares during the last quarter. RS Investment Management Co. LLC increased its position in CommVault Systems by 20.7% in the second quarter. RS Investment Management Co. LLC now owns 1,650,622 shares of the company’s stock worth $71,290,000 after buying an additional 282,705 shares during the last quarter. State Street Corp increased its position in CommVault Systems by 0.7% in the first quarter. State Street Corp now owns 1,390,780 shares of the company’s stock worth $60,040,000 after buying an additional 9,891 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in CommVault Systems by 6.1% in the first quarter. Renaissance Technologies LLC now owns 951,800 shares of the company’s stock worth $41,089,000 after buying an additional 54,696 shares during the last quarter. Institutional investors own 91.50% of the company’s stock.
Several brokerages recently issued reports on CVLT. Jefferies Group raised their price objective on CommVault Systems from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Mizuho raised their price objective on CommVault Systems from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, September 9th. JMP Securities restated a “buy” rating on shares of CommVault Systems in a research note on Wednesday, August 31st. Zacks Investment Research cut CommVault Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, Pacific Crest raised their price objective on CommVault Systems from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $49.79.
CommVault Systems Company Profile
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.
Receive News & Stock Ratings for CommVault Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommVault Systems Inc. and related stocks with our FREE daily email newsletter.