CommVault Systems (CVLT) Lifted to Buy at ValuEngine

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ValuEngine upgraded shares of CommVault Systems (NASDAQ:CVLT) from a hold rating to a buy rating in a research note released on Tuesday morning.

A number of other brokerages have also issued reports on CVLT. Wells Fargo & Co raised their target price on shares of CommVault Systems from $75.00 to $80.00 and gave the stock an outperform rating in a research report on Thursday, June 7th. BidaskClub downgraded shares of CommVault Systems from a strong-buy rating to a buy rating in a research note on Friday, June 8th. Mitsubishi UFJ Financial Group increased their price target on shares of CommVault Systems and gave the stock a neutral rating in a research note on Wednesday, July 25th. Finally, Zacks Investment Research raised shares of CommVault Systems from a hold rating to a strong-buy rating and set a $74.00 price target on the stock in a research note on Friday, July 27th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. CommVault Systems has an average rating of Buy and a consensus target price of $77.00.

Shares of NASDAQ CVLT opened at $67.85 on Tuesday. CommVault Systems has a 1 year low of $48.35 and a 1 year high of $72.65. The company has a market cap of $3.13 billion, a P/E ratio of 2,280.00, a PEG ratio of 7.23 and a beta of 1.18.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 24th. The software maker reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.09. CommVault Systems had a negative net margin of 9.89% and a positive return on equity of 0.72%. The firm had revenue of $176.18 million for the quarter, compared to analyst estimates of $177.92 million. During the same quarter last year, the business earned $0.21 earnings per share. CommVault Systems’s revenue was up 6.1% compared to the same quarter last year. analysts forecast that CommVault Systems will post 0.6 EPS for the current year.

In other news, VP Brian Carolan sold 5,484 shares of the firm’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $71.90, for a total value of $394,299.60. Following the transaction, the vice president now owns 102,796 shares of the company’s stock, valued at approximately $7,391,032.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Ronald L. Miiller sold 2,213 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $65.00, for a total transaction of $143,845.00. Following the completion of the transaction, the senior vice president now directly owns 98,117 shares in the company, valued at approximately $6,377,605. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,699 shares of company stock worth $8,067,935. 13.40% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of CommVault Systems by 5.7% in the 2nd quarter. BlackRock Inc. now owns 4,691,145 shares of the software maker’s stock valued at $308,910,000 after acquiring an additional 254,649 shares during the period. FMR LLC raised its stake in shares of CommVault Systems by 5.5% in the 2nd quarter. FMR LLC now owns 1,787,322 shares of the software maker’s stock valued at $117,696,000 after acquiring an additional 93,309 shares during the period. Renaissance Technologies LLC raised its stake in shares of CommVault Systems by 17.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,599,800 shares of the software maker’s stock valued at $105,347,000 after acquiring an additional 236,400 shares during the period. ETF Managers Group LLC purchased a new position in shares of CommVault Systems in the 1st quarter valued at $62,229,000. Finally, Victory Capital Management Inc. raised its stake in shares of CommVault Systems by 0.7% in the 1st quarter. Victory Capital Management Inc. now owns 825,011 shares of the software maker’s stock valued at $47,191,000 after acquiring an additional 5,623 shares during the period. 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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Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

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