Summ Redstone Reinstates CommVault Systems to Buy

Brokerage firm Summ Redstone Reinstates its rating on CommVault Systems(NASDAQ:CVLT). The shares have been rated Buy. The rating by Summ Redstone was issued on Jul 5, 2016.

CommVault Systems (CVLT) made into the market gainers list on Fridays trading session with the shares advancing 2.79% or 1.2 points. Due to strong positive momentum, the stock ended at $44.23, which is also near the day’s high of $44.4. The stock began the session at $43.58 and the volume stood at 2,75,141 shares. The 52-week high of the shares is $47.42 and the 52 week low is $29.41. The company has a current market capitalization of $1,956 M and it has 4,42,23,244 shares in outstanding.

CommVault Systems(CVLT) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $159.56M. Analysts had an estimated revenue of $157.09M. Earnings per share were $0.36. Analysts had estimated an EPS of $0.25.

Several Insider Transactions has been reported to the SEC. On May 25, 2016, Gary Merrill (Chief Accounting Officer) sold 1,037 shares at $44.23 per share price.Also, On May 25, 2016, Armando Geday (director) sold 2,200 shares at $44.41 per share price.On May 13, 2016, Brian Carolan (VP Finance and CFO) sold 4,000 shares at $43.80 per share price, according to the Form-4 filing with the securities and exchange commission.

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. Company also provides its customers with a range of professional and customer support services.

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