CommVault Systems Inc. (CVLT) Price Target Increased to $68.00 by Analysts at Stifel Nicolaus
CommVault Systems Inc. (NASDAQ:CVLT) had its target price lifted by Stifel Nicolaus from $62.00 to $68.00 in a research report report published on Thursday morning. The brokerage currently has a buy rating on the stock.
Several other brokerages have also recently issued reports on CVLT. Mizuho lifted their target price on CommVault Systems from $56.00 to $60.00 and gave the stock a buy rating in a report on Friday, September 9th. Jefferies Group lifted their target price on CommVault Systems from $60.00 to $64.00 and gave the stock a buy rating in a report on Wednesday, September 14th. Zacks Investment Research cut CommVault Systems from a buy rating to a hold rating in a report on Wednesday, July 27th. Pacific Crest lifted their target price on CommVault Systems from $49.00 to $53.00 and gave the stock an overweight rating in a report on Wednesday, July 27th. Finally, JMP Securities reaffirmed a buy rating on shares of CommVault Systems in a report on Wednesday, August 31st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. CommVault Systems has a consensus rating of Buy and an average price target of $50.73.
Shares of CommVault Systems (NASDAQ:CVLT) traded down 1.67% on Thursday, hitting $54.82. The stock had a trading volume of 142,525 shares. CommVault Systems has a 52-week low of $29.41 and a 52-week high of $55.82. The company has a 50-day moving average of $52.62 and a 200-day moving average of $47.02. The company’s market cap is $2.44 billion.
CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 26th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $152.40 million for the quarter, compared to analysts’ expectations of $149.15 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate that CommVault Systems will post $0.96 EPS for the current fiscal year.
In other CommVault Systems news, SVP Ronald L. Miiller sold 31,727 shares of the company’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 completion of the sale, the senior vice president now owns 156,649 shares in the company, valued at $7,901,375.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 13.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Mesirow Financial Investment Management Equity Management acquired a new position in shares of CommVault Systems during the second quarter worth about $23,156,000. Champlain Investment Partners LLC increased its position in shares of CommVault Systems by 222.9% in the first quarter. Champlain Investment Partners LLC now owns 700,075 shares of the company’s stock worth $30,222,000 after buying an additional 483,290 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of CommVault Systems during the first quarter worth about $13,761,000. RS Investment Management Co. LLC increased its position 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 during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of CommVault Systems during the second quarter worth about $11,670,000. 91.50% of the stock is currently owned by institutional investors and hedge funds.
About CommVault Systems
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