CommVault Systems, Inc. (CVLT) Coverage Initiated by Analysts at Wells Fargo & Company
Wells Fargo & Company began coverage on shares of CommVault Systems, Inc. (NASDAQ:CVLT) in a research note published on Tuesday morning. The brokerage issued an outperform rating and a $64.00 target price on the software maker’s stock.
Other analysts also recently issued reports about the company. Mitsubishi UFJ Financial Group set a $70.00 price objective on CommVault Systems and gave the stock a buy rating in a research report on Tuesday, July 25th. Stifel Nicolaus reissued a buy rating and set a $75.00 price objective (up from $68.00) on shares of CommVault Systems in a research report on Wednesday, July 26th. Lake Street Capital lifted their target price on CommVault Systems from $63.00 to $69.00 and gave the company a buy rating in a research report on Wednesday, July 26th. Jefferies Group LLC lifted their target price on CommVault Systems from $67.00 to $75.00 and gave the company a buy rating in a research report on Tuesday, July 25th. Finally, BidaskClub raised CommVault Systems from a hold rating to a buy rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $70.00.
Shares of CommVault Systems (NASDAQ:CVLT) traded up $0.30 during trading hours on Tuesday, hitting $53.80. The company had a trading volume of 595,000 shares, compared to its average volume of 382,924. CommVault Systems has a 1 year low of $47.61 and a 1 year high of $64.60.
CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, October 24th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The business had revenue of $168.14 million for the quarter, compared to analyst estimates of $170.15 million. CommVault Systems had a negative return on equity of 0.17% and a net margin of 0.28%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share. analysts predict that CommVault Systems will post 0.04 earnings per share for the current fiscal year.
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In other news, VP Brian Carolan sold 4,000 shares of CommVault Systems stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $61.90, for a total value of $247,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Merrill sold 7,260 shares of CommVault Systems stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $62.28, for a total value of $452,152.80. The disclosure for this sale can be found here. Company insiders own 13.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CommVault Systems by 11.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,904 shares of the software maker’s stock valued at $107,000 after buying an additional 203 shares during the period. US Bancorp DE lifted its stake in CommVault Systems by 47.0% during the second quarter. US Bancorp DE now owns 2,102 shares of the software maker’s stock worth $119,000 after purchasing an additional 672 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in CommVault Systems by 70.9% during the second quarter. Riverhead Capital Management LLC now owns 2,563 shares of the software maker’s stock worth $145,000 after purchasing an additional 1,063 shares during the last quarter. Pacad Investment Ltd. lifted its stake in CommVault Systems by 88.9% during the second quarter. Pacad Investment Ltd. now owns 3,400 shares of the software maker’s stock worth $192,000 after purchasing an additional 1,600 shares during the last quarter. Finally, OppenheimerFunds Inc. purchased a new stake in CommVault Systems during the first quarter worth approximately $201,000. Institutional investors and hedge funds own 87.19% of the company’s stock.
About CommVault Systems
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