Stifel Nicolaus reaffirmed their buy rating on shares of CommVault Systems, Inc. (NASDAQ:CVLT) in a research report released on Wednesday morning. The firm currently has a $75.00 price objective on the software maker’s stock, up from their previous price objective of $68.00.

Several other brokerages also recently weighed in on CVLT. Jefferies Group LLC lifted their target price on shares of CommVault Systems from $67.00 to $75.00 and gave the company a buy rating in a report on Tuesday, July 25th. Lake Street Capital lifted their target price on shares of CommVault Systems from $63.00 to $69.00 and gave the company a buy rating in a report on Wednesday. BidaskClub raised shares of CommVault Systems from a hold rating to a buy rating in a report on Monday, July 24th. Mizuho reaffirmed a buy rating and issued a $75.00 target price (up previously from $70.00) on shares of CommVault Systems in a report on Monday, July 24th. Finally, Zacks Investment Research downgraded shares of CommVault Systems from a hold rating to a sell rating in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $67.00.

CommVault Systems (NASDAQ CVLT) opened at 60.05 on Wednesday. CommVault Systems has a 12 month low of $47.61 and a 12 month high of $64.60. The firm has a market cap of $2.73 billion, a P/E ratio of 1053.51 and a beta of 1.45. The firm has a 50 day moving average of $58.07 and a 200-day moving average of $53.72.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 25th. The software maker reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The business had revenue of $165.97 million for the quarter, compared to the consensus estimate of $159.92 million. CommVault Systems had a net margin of 0.35% and a return on equity of 0.30%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 earnings per share. On average, equities research analysts forecast that CommVault Systems will post $1.22 earnings per share for the current year.

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In related news, insider Al Bunte sold 34,607 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $55.60, for a total value of $1,924,149.20. Following the completion of the sale, the insider now owns 507,171 shares in the company, valued at $28,198,707.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian Carolan sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $59.90, for a total transaction of $239,600.00. Following the completion of the sale, the vice president now owns 79,793 shares of the company’s stock, valued at approximately $4,779,600.70. The disclosure for this sale can be found here. Insiders sold 185,730 shares of company stock valued at $10,636,988 in the last quarter. Company insiders own 13.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. US Bancorp DE boosted its stake in shares of CommVault Systems by 47.0% in the second quarter. US Bancorp DE now owns 2,102 shares of the software maker’s stock valued at $119,000 after buying an additional 672 shares during the period. Meadow Creek Investment Management LLC boosted its stake in shares of CommVault Systems by 2.4% in the first quarter. Meadow Creek Investment Management LLC now owns 2,352 shares of the software maker’s stock valued at $120,000 after buying an additional 56 shares during the period. Glen Harbor Capital Management LLC boosted its stake in shares of CommVault Systems by 2.4% in the first quarter. Glen Harbor Capital Management LLC now owns 2,856 shares of the software maker’s stock valued at $145,000 after buying an additional 68 shares during the period. LS Investment Advisors LLC boosted its stake in shares of CommVault Systems by 22.6% in the first quarter. LS Investment Advisors LLC now owns 3,455 shares of the software maker’s stock valued at $176,000 after buying an additional 636 shares during the period. Finally, OppenheimerFunds Inc. bought a new stake in shares of CommVault Systems during the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.

CommVault Systems Company Profile

Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

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