CommVault Systems, Inc. (NASDAQ:CVLT) Given Consensus Recommendation of “Buy” by Analysts
Shares of CommVault Systems, Inc. (NASDAQ:CVLT) have received an average recommendation of “Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $67.63.
CVLT has been the subject of several research analyst reports. BidaskClub upgraded CommVault Systems from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Mizuho reiterated a “buy” rating and issued a $62.00 price objective on shares of CommVault Systems in a report on Tuesday, June 20th. TheStreet upgraded CommVault Systems from a “c” rating to a “b” rating in a report on Monday, April 24th. Jefferies Group LLC increased their price objective on CommVault Systems from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Finally, Zacks Investment Research cut CommVault Systems from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th.
Shares of CommVault Systems (NASDAQ CVLT) opened at 60.75 on Tuesday. The company has a market capitalization of $2.77 billion, a P/E ratio of 1065.79 and a beta of 1.45. CommVault Systems has a one year low of $47.61 and a one year high of $64.60. The firm has a 50-day moving average price of $58.23 and a 200-day moving average price of $53.79.
CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 25th. The software maker reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. CommVault Systems had a return on equity of 0.30% and a net margin of 0.35%. The business had revenue of $165.97 million during the quarter, compared to analysts’ expectations of $159.92 million. During the same quarter last year, the business posted $0.21 EPS. The business’s revenue was up 9.4% on a year-over-year basis. Equities analysts forecast that CommVault Systems will post $1.22 earnings per share for the current year.
In other news, insider Gary Merrill sold 5,246 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $55.06, for a total value of $288,844.76. Following the completion of the transaction, the insider now owns 20,822 shares of the company’s stock, valued at approximately $1,146,459.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Al Bunte sold 30,001 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $60.01, for a total value of $1,800,360.01. Following the completion of the transaction, the insider now directly owns 474,780 shares of the company’s stock, valued at approximately $28,491,547.80. The disclosure for this sale can be found here. Insiders sold a total of 160,247 shares of company stock valued at $9,315,505 in the last three months. Corporate insiders own 13.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC raised its position in shares of CommVault Systems by 3.2% in the fourth quarter. Teachers Advisors LLC now owns 354,829 shares of the software maker’s stock valued at $18,238,000 after buying an additional 11,090 shares in the last quarter. Bank of Nova Scotia bought a new position in CommVault Systems during the first quarter worth $5,080,000. MARSHALL WACE ASIA Ltd bought a new position in CommVault Systems during the first quarter worth $5,366,000. Swiss National Bank raised its position 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, Credit Suisse AG raised its position in CommVault Systems by 989.6% in the first quarter. Credit Suisse AG now owns 648,563 shares of the software maker’s stock worth $32,947,000 after buying an additional 589,040 shares during the period. 88.36% of the stock is owned by hedge funds and other institutional investors.
About CommVault Systems
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