Wells Fargo & Company initiated coverage on shares of CommVault Systems, Inc. (NASDAQ:CVLT) in a research report released on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $64.00 price target on the software maker’s stock.

Several other equities research analysts also recently issued reports on CVLT. Zacks Investment Research downgraded shares of CommVault Systems from a hold rating to a sell rating in a research report on Wednesday, July 19th. Mizuho reissued a buy rating and set a $75.00 price objective (up previously from $70.00) on shares of CommVault Systems in a research report on Monday, July 24th. BidaskClub raised shares of CommVault Systems from a hold rating to a buy rating in a research report on Monday, July 24th. Jefferies Group LLC increased their price objective on shares of CommVault Systems from $67.00 to $75.00 and gave the stock a buy rating in a research report on Tuesday, July 25th. Finally, Lake Street Capital increased their price objective on shares of CommVault Systems from $63.00 to $69.00 and gave the stock a buy rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $70.00.

Shares of CommVault Systems (NASDAQ CVLT) traded down $1.05 during mid-day trading on Tuesday, hitting $54.25. 427,970 shares of the stock traded hands, compared to its average volume of 384,123. CommVault Systems has a 52 week low of $47.61 and a 52 week high of $64.60.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, October 24th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.05). CommVault Systems had a negative return on equity of 0.17% and a net margin of 0.28%. The company had revenue of $168.14 million for the quarter, compared to the consensus estimate of $170.15 million. During the same period in the prior year, the company earned $0.25 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. research analysts expect that CommVault Systems will post 0.04 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/11/17/wells-fargo-company-begins-coverage-on-commvault-systems-inc-cvlt.html.

In other news, insider Gary Merrill sold 7,260 shares of CommVault Systems stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $62.28, for a total value of $452,152.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian Carolan sold 4,000 shares of CommVault Systems stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $61.90, for a total transaction of $247,600.00. The disclosure for this sale can be found here. 13.40% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of CommVault Systems by 11.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,904 shares of the software maker’s stock valued at $107,000 after acquiring an additional 203 shares during the period. US Bancorp DE grew its position in shares of CommVault Systems by 47.0% in the 2nd quarter. US Bancorp DE now owns 2,102 shares of the software maker’s stock valued at $119,000 after acquiring an additional 672 shares during the period. Riverhead Capital Management LLC grew its position in shares of CommVault Systems by 70.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,563 shares of the software maker’s stock valued at $145,000 after acquiring an additional 1,063 shares during the period. Pacad Investment Ltd. grew its position in shares of CommVault Systems by 88.9% in the 2nd quarter. Pacad Investment Ltd. now owns 3,400 shares of the software maker’s stock valued at $192,000 after acquiring an additional 1,600 shares during the period. Finally, OppenheimerFunds Inc. bought a new position in shares of CommVault Systems in the 1st quarter valued at about $201,000. 87.19% of the stock is owned by institutional investors.

About CommVault Systems

Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

Receive News & Stock Ratings for CommVault Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommVault Systems Inc. and related stocks with our FREE daily email newsletter.