CommVault Systems Inc. (CVLT) Given Buy Rating at Jefferies Group
CommVault Systems Inc. (NASDAQ:CVLT)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group in a research note issued on Thursday. They presently have a $64.00 target price on the stock. Jefferies Group’s target price indicates a potential upside of 16.28% from the stock’s current price.
Other analysts have also issued research reports about the company. Stifel Nicolaus boosted their price target on CommVault Systems from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday. Mizuho lifted their price objective on CommVault Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, September 9th. JMP Securities reiterated a “buy” rating on shares of CommVault Systems in a research report on Wednesday, August 31st. Zacks Investment Research upgraded CommVault Systems from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, July 12th. Finally, Summit Redstone reiterated a “buy” rating and issued a $55.00 price objective on shares of CommVault Systems in a research report on Tuesday, July 5th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $50.21.
Shares of CommVault Systems (NASDAQ:CVLT) traded up 0.51% on Thursday, reaching $55.32. The company had a trading volume of 93,548 shares. The company has a 50-day moving average price of $52.50 and a 200-day moving average price of $46.96. CommVault Systems has a one year low of $29.41 and a one year high of $55.33. The firm’s market cap is $2.46 billion.
CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. The business had revenue of $152.40 million for the quarter, compared to analyst estimates of $149.15 million. CommVault Systems had a negative return on equity of 1.33% and a negative net margin of 0.10%. CommVault Systems’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS. On average, 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 stock in a transaction that occurred 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 sale, the senior vice president now owns 156,649 shares of the company’s stock, valued at $7,901,375.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.60% of the company’s stock.
Large investors have recently modified their holdings of the company. 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 worth $130,174,000 after buying an additional 253,997 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. RS Investment Management Co. LLC increased its stake in shares of 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 in the last quarter. State Street Corp increased its stake in shares of 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 in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of 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 in the last quarter. 91.50% of the stock is currently owned by institutional investors and hedge funds.
CommVault Systems Company Profile
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