Brokerages Set CommVault Systems, Inc. (NASDAQ:CVLT) Target Price at $59.50

CommVault Systems, Inc. (NASDAQ:CVLT) has been given an average recommendation of “Buy” by the eight ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $59.50.

CVLT has been the subject of a number of recent research reports. BidaskClub upgraded shares of CommVault Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Royal Bank of Canada set a $50.00 price target on shares of CommVault Systems and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Jefferies Financial Group initiated coverage on shares of CommVault Systems in a research note on Tuesday, October 8th. They set a “buy” rating and a $59.00 price target for the company. ValuEngine upgraded shares of CommVault Systems from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Finally, Zacks Investment Research upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Thursday, October 31st.

CVLT traded up $0.10 during trading hours on Monday, hitting $48.65. 477,500 shares of the company’s stock were exchanged, compared to its average volume of 457,467. The firm has a 50 day moving average of $46.85 and a 200 day moving average of $47.24. CommVault Systems has a 12-month low of $40.73 and a 12-month high of $69.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.23 billion, a P/E ratio of 81.08, a price-to-earnings-growth ratio of 10.06 and a beta of 1.14.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.14. The firm had revenue of $167.58 million during the quarter, compared to analysts’ expectations of $163.28 million. CommVault Systems had a negative net margin of 0.39% and a positive return on equity of 7.18%. CommVault Systems’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS. As a group, research analysts expect that CommVault Systems will post 0.49 EPS for the current fiscal year.

In other CommVault Systems news, CFO Brian Carolan sold 647 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $50.18, for a total transaction of $32,466.46. Following the completion of the transaction, the chief financial officer now owns 107,100 shares in the company, valued at approximately $5,374,278. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Al Bunte sold 117,296 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $48.46, for a total transaction of $5,684,164.16. Following the transaction, the chief operating officer now owns 525,027 shares of the company’s stock, valued at approximately $25,442,808.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,332 shares of company stock valued at $5,786,317. 12.00% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp raised its position in CommVault Systems by 46.8% during the 2nd quarter. Mackenzie Financial Corp now owns 2,188,361 shares of the software maker’s stock worth $108,586,000 after buying an additional 697,987 shares during the last quarter. Renaissance Technologies LLC raised its position in CommVault Systems by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,866,287 shares of the software maker’s stock worth $92,605,000 after buying an additional 6,200 shares during the last quarter. Bank of New York Mellon Corp raised its position in CommVault Systems by 11.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,032,948 shares of the software maker’s stock worth $51,255,000 after buying an additional 110,074 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in CommVault Systems by 68.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 963,950 shares of the software maker’s stock worth $47,831,000 after buying an additional 392,043 shares during the last quarter. Finally, ETF Managers Group LLC raised its position in CommVault Systems by 14.0% during the 2nd quarter. ETF Managers Group LLC now owns 959,365 shares of the software maker’s stock worth $46,481,000 after buying an additional 117,965 shares during the last quarter. Institutional investors own 86.06% of the company’s stock.

CommVault Systems Company Profile

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

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Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

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