CommVault Systems, Inc. (CVLT) Shares Jump 16% on Good Earnings Report


CommVault Systems, Inc. (NASDAQ:CVLT) shares are trading up big this morning after the company released their quarerly earnings report. Analysts had estimated eanrings per share of just $0.20, but the company blew this away by posting earnings of $0.28 per share. They also beat the consensus as far as revenue for the quarter as well. They reported $155.70 million, beating the consensus estimate of $148.33.

This really came as a surpise, one to the upside, for a stock that not many people envisioned having such a great quarterly report. The stock is up 16.00% or $5.02 following the news, hitting $36.39 per share. About 1.32M shares traded hands or up 173.50% from the average. CVLT has declined 29.33% since June 22, 2015 and is currently downtrending. It has underperformed the S&P500 by 18.31%.

From a total of 8 analysts covering Commvault Systems Inc. (NASDAQ:CVLT) stock, 5 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 63% of the ratings are positive. The highest target price is $49 while the lowest target price is $36. The mean of all analyst targets is $43.67 which is 20.01% above today’s ($36.39) stock price. Commvault Systems Inc. was the topic of 12 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. Mizuho maintained shares on January 22 with a “Buy” rating. Jefferies upgraded shares to a”Buy” rating and a $45 target share price in their report from a July 29. Mitsubishi UFJ initiated CVLT stock in a recent report from January 13 with a “Overweight” rating. Finally, RBC Capital Markets maintained the stock with a “Sector Perform” rating in a report they issued on a July 29.

The institutional sentiment decreased to 0.89 in Q2 2015. It’s down 0.37, from 1.26 in 2015Q2. The ratio worsened, as 42 funds sold all their CommVault Systems, Inc. shares they owned while 56 reduced their positions. 20 funds bought stakes while 67 increased their total positions. Institutions now own 52.59 million shares which is 23.96% more than the previous share count of 42.43 million in 2015Q2.

Park Presidio Capital Llc holds 4.62% of its total portfolio in CommVault Systems, Inc., equating to 577,525 shares. Gagnon Advisors Llc owns 122,241 shares representing 3.38% of their total US portfolio. Moreover, Gagnon Securities Llc has 2.57% of their total portfolio invested in the company, equating to 154,553 shares. The New York-based Okumus Fund Management Ltd. has a total of 1.82% of their portfolio invested in the stock. Goodman Financial Corp, a Texas-based fund reported 83,795 shares owned.

Since May 22, 2015, the stock had 0 insider purchases, and 5 insider sales for a total of $8.31 million in net activity. Bunte Al sold 76,000 shares worth $2.88 million. Hammer N Robert sold 140,434 shares worth $5.26M. Carolan Brian sold 72 shares worth $2,774. Merrill Gary sold 316 shares worth $11,850. The insider Geday Armando sold 4,300 shares worth $161,422.

CommVault Systems, Inc. is a well-known provider of data and information management software applications and related services. The company has a market cap of $1.38 billion. The Firm develops market and sell data and information management software applications under the Simpana Software brand. It currently has negative earnings. The Firm develops, markets and sells a suite of software applications and services, primarily in North America, Europe, Australia and Asia, that provides its clients 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.