CommVault Systems Inc. (NASDAQ:CVLT) had its price objective raised by Stifel Nicolaus from $62.00 to $68.00 in a research report report published on Thursday morning. The brokerage currently has a buy rating on the stock.
Several other equities analysts have also recently weighed in on the company. Jefferies Group lifted their price target on CommVault Systems from $60.00 to $64.00 and gave the company a buy rating in a research report on Wednesday, September 14th. Mizuho lifted their price target on CommVault Systems from $56.00 to $60.00 and gave the company a buy rating in a research report on Friday, September 9th. JMP Securities reiterated a buy rating on shares of CommVault Systems in a research report on Wednesday, August 31st. Zacks Investment Research cut CommVault Systems from a buy rating to a hold rating in a research report on Wednesday, July 27th. Finally, Pacific Crest lifted their price objective on CommVault Systems from $49.00 to $53.00 and gave the company an overweight rating in a research note on Wednesday, July 27th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $50.73.
Shares of CommVault Systems (NASDAQ:CVLT) opened at 53.96 on Thursday. CommVault Systems has a 52 week low of $29.41 and a 52 week high of $55.89. The firm’s market cap is $2.40 billion. The stock has a 50 day moving average price of $52.86 and a 200 day moving average price of $47.40.
CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. The company earned $152.40 million during the quarter, compared to analysts’ expectations of $149.15 million. CommVault Systems had a negative return on equity of 1.33% and a negative net margin of 0.10%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 earnings per share. Equities analysts expect that CommVault Systems will post $0.96 earnings per share for the current year.
In other news, SVP Ronald L. Miiller sold 31,727 shares of CommVault Systems stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $50.44, for a total value of $1,600,309.88. Following the transaction, the senior vice president now owns 156,649 shares in the company, valued at $7,901,375.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 13.60% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CVLT. Pacad Investment Ltd. increased its position in shares of CommVault Systems by 31.4% in the first quarter. Pacad Investment Ltd. now owns 15,500 shares of the company’s stock worth $669,000 after buying an additional 3,700 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of CommVault Systems by 20.4% in the first quarter. TIAA CREF Investment Management LLC now owns 182,756 shares of the company’s stock worth $7,890,000 after buying an additional 30,981 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of CommVault Systems by 14.9% in the first quarter. Teachers Advisors Inc. now owns 77,267 shares of the company’s stock worth $3,336,000 after buying an additional 10,021 shares in the last quarter. BlackRock Inc. increased its position in shares of CommVault Systems by 9.1% in the first quarter. BlackRock Inc. now owns 16,786 shares of the company’s stock worth $725,000 after buying an additional 1,398 shares in the last quarter. Finally, BlackRock Group LTD increased its position in shares of CommVault Systems by 27.6% in the first quarter. BlackRock Group LTD now owns 30,657 shares of the company’s stock worth $1,323,000 after buying an additional 6,639 shares in the last quarter. Institutional investors own 91.50% of the company’s stock.
About CommVault Systems
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