BidaskClub upgraded shares of CommVault Systems (NASDAQ:CVLT) from a sell rating to a hold rating in a research report released on Wednesday.
A number of other brokerages have also recently commented on CVLT. Wells Fargo & Co increased their target price on CommVault Systems from $75.00 to $80.00 and gave the company an outperform rating in a report on Thursday, June 7th. Jefferies Financial Group increased their target price on CommVault Systems to $80.00 and gave the company a buy rating in a report on Tuesday, May 1st. Mitsubishi UFJ Financial Group increased their target price on CommVault Systems and gave the company a neutral rating in a report on Wednesday, July 25th. ValuEngine cut CommVault Systems from a buy rating to a hold rating in a report on Saturday, August 18th. Finally, Zacks Investment Research upgraded CommVault Systems from a hold rating to a strong-buy rating and set a $74.00 target price on the stock in a report on Friday, July 27th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $75.56.
NASDAQ CVLT opened at $69.35 on Wednesday. CommVault Systems has a 1-year low of $48.35 and a 1-year high of $72.65. The company has a market capitalization of $3.13 billion, a P/E ratio of -117.54, a PEG ratio of 7.22 and a beta of 1.12.
CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 24th. The software maker reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The firm had revenue of $176.18 million for the quarter, compared to analysts’ expectations of $177.92 million. CommVault Systems had a positive return on equity of 0.72% and a negative net margin of 9.89%. CommVault Systems’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. equities analysts predict that CommVault Systems will post 0.6 earnings per share for the current fiscal year.
In other news, VP Brian Carolan sold 5,484 shares of CommVault Systems stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $71.90, for a total transaction of $394,299.60. Following the sale, the vice president now directly owns 102,796 shares of the company’s stock, valued at $7,391,032.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Ronald L. Miiller sold 2,213 shares of CommVault Systems stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $65.00, for a total value of $143,845.00. Following the sale, the senior vice president now directly owns 98,117 shares in the company, valued at $6,377,605. The disclosure for this sale can be found here. Insiders sold 141,518 shares of company stock worth $9,455,463 in the last quarter. 13.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank increased its position in shares of CommVault Systems by 14.5% during the second quarter. Amalgamated Bank now owns 6,442 shares of the software maker’s stock worth $424,000 after acquiring an additional 817 shares during the last quarter. Arizona State Retirement System grew its stake in CommVault Systems by 3.7% in the second quarter. Arizona State Retirement System now owns 29,367 shares of the software maker’s stock worth $1,934,000 after purchasing an additional 1,048 shares in the last quarter. BlueMountain Capital Management LLC grew its stake in CommVault Systems by 134.5% in the second quarter. BlueMountain Capital Management LLC now owns 2,214 shares of the software maker’s stock worth $146,000 after purchasing an additional 1,270 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in CommVault Systems by 3.4% in the second quarter. MetLife Investment Advisors LLC now owns 44,540 shares of the software maker’s stock worth $2,933,000 after purchasing an additional 1,453 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in CommVault Systems by 29.7% in the second quarter. SG Americas Securities LLC now owns 8,081 shares of the software maker’s stock worth $532,000 after purchasing an additional 1,849 shares in the last quarter. 90.76% of the stock is currently owned by institutional investors and hedge funds.
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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