CommVault Systems (CVLT) Earning Favorable Media Coverage, Report Finds
Media coverage about CommVault Systems (NASDAQ:CVLT) has trended positive this week, according to Accern Sentiment. Accern identifies positive and negative news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. CommVault Systems earned a coverage optimism score of 0.31 on Accern’s scale. Accern also assigned media headlines about the software maker an impact score of 48.1516608444678 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the news stories that may have effected Accern’s scoring:
- CommVault Systems, Inc. (CVLT) Given Consensus Rating of “Hold” by Analysts (americanbankingnews.com)
- Commvault Expands India Presence with New Hyderabad Office (finance.yahoo.com)
- Commvault Appoints Olaf Duennweller Area-Vice President EMEA Central (finance.yahoo.com)
- Analysts Anticipate CommVault Systems, Inc. (CVLT) to Post $0.34 Earnings Per Share (americanbankingnews.com)
- $187.13 Million in Sales Expected for CommVault Systems, Inc. (CVLT) This Quarter (americanbankingnews.com)
A number of brokerages have recently weighed in on CVLT. BidaskClub upgraded CommVault Systems from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded CommVault Systems from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Lake Street Capital reiterated a “buy” rating and issued a $58.00 target price (down previously from $60.00) on shares of CommVault Systems in a report on Thursday, January 25th. Finally, Mizuho reiterated a “buy” rating and issued a $75.00 target price on shares of CommVault Systems in a report on Tuesday, January 23rd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. CommVault Systems currently has an average rating of “Buy” and a consensus price target of $69.78.
CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Wednesday, January 24th. The software maker reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). CommVault Systems had a positive return on equity of 0.32% and a negative net margin of 8.30%. The firm had revenue of $180.37 million during the quarter, compared to analyst estimates of $182.01 million. During the same quarter in the prior year, the company posted $0.28 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. equities research analysts forecast that CommVault Systems will post 0.03 earnings per share for the current fiscal year.
CommVault Systems declared that its board has approved a share repurchase program on Wednesday, January 24th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the software maker to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other CommVault Systems news, Director David F. Walker sold 5,500 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $55.48, for a total transaction of $305,140.00. Following the transaction, the director now owns 42,850 shares in the company, valued at $2,377,318. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary Merrill sold 3,335 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $54.40, for a total value of $181,424.00. Following the transaction, the insider now owns 18,771 shares in the company, valued at approximately $1,021,142.40. The disclosure for this sale can be found here. Insiders sold 289,737 shares of company stock worth $14,770,440 in the last 90 days. 13.40% of the stock is currently owned by corporate insiders.
CommVault Systems Company Profile
Commvault Systems, Inc (Commvault) is a provider of data and information management software applications and related services. 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 solutions supporting all operating systems, applications, and databases on virtual and physical servers, Network Attached Storage (NAS) shares, cloud-based infrastructures, and mobile devices; management through a single console; multiple protection methods, including backup and archive, snapshot management, replication, and content indexing for eDiscovery; storage management using deduplication for disk, tape and cloud; integration with the storage arrays; complete virtual infrastructure management supporting multiple hypervisors; security capabilities to limit access to critical data, and policy-based data management.
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