CommVault Systems, Inc. (CVLT) Price Target Raised to $75.00
CommVault Systems, Inc. (NASDAQ:CVLT) had its target price hoisted by Jefferies Group LLC from $67.00 to $75.00 in a note issued to investors on Tuesday, The Fly reports. The firm currently has a “buy” rating on the software maker’s stock. Jefferies Group LLC’s price objective points to a potential upside of 18.67% from the stock’s previous close.
CVLT has been the topic of a number of other reports. Zacks Investment Research lowered shares of CommVault Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Mizuho restated a “buy” rating and set a $62.00 target price on shares of CommVault Systems in a research report on Tuesday, June 20th. Lake Street Capital upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, May 3rd. TheStreet upgraded shares of CommVault Systems from a “c” rating to a “b” rating in a research report on Monday, April 24th. Finally, BidaskClub upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $62.56.
Shares of CommVault Systems (NASDAQ:CVLT) traded up 3.52% during mid-day trading on Tuesday, reaching $63.20. 1,157,387 shares of the company’s stock traded hands. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 6320.00 and a beta of 1.44. CommVault Systems has a one year low of $47.44 and a one year high of $64.60. The firm’s 50-day moving average is $57.63 and its 200 day moving average is $53.49.
CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 25th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $165.97 million for the quarter, compared to analyst estimates of $159.92 million. CommVault Systems had a net margin of 0.08% and a negative return on equity of 1.04%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. Analysts predict that CommVault Systems will post $1.19 earnings per share for the current year.
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In other CommVault Systems news, insider Al Bunte sold 34,607 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $55.60, for a total value of $1,924,149.20. Following the completion of the sale, the insider now owns 507,171 shares of the company’s stock, valued at $28,198,707.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Brian Carolan sold 4,000 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $59.90, for a total value of $239,600.00. Following the completion of the sale, the vice president now directly owns 79,793 shares of the company’s stock, valued at approximately $4,779,600.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,730 shares of company stock valued at $10,133,388. Corporate insiders own 13.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CVLT. Teachers Advisors LLC increased its stake in CommVault Systems by 3.2% in the fourth quarter. Teachers Advisors LLC now owns 354,829 shares of the software maker’s stock worth $18,238,000 after buying an additional 11,090 shares during the period. Highbridge Capital Management LLC increased its stake in CommVault Systems by 23.6% in the fourth quarter. Highbridge Capital Management LLC now owns 29,734 shares of the software maker’s stock worth $1,529,000 after buying an additional 5,674 shares during the period. Bank of Nova Scotia acquired a new stake in CommVault Systems during the first quarter worth approximately $5,080,000. Swiss National Bank increased its stake in CommVault Systems by 2.3% in the first quarter. Swiss National Bank now owns 70,900 shares of the software maker’s stock worth $3,602,000 after buying an additional 1,600 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in CommVault Systems during the first quarter worth approximately $5,366,000. 89.25% of the stock is owned by institutional investors.
About CommVault Systems
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