CommVault Systems, Inc. (CVLT) Price Target Increased to $75.00 by Analysts at Jefferies Group LLC
CommVault Systems, Inc. (NASDAQ:CVLT) had its price objective lifted by Jefferies Group LLC from $67.00 to $75.00 in a report released on Tuesday, The Fly reports. They currently have a buy rating on the software maker’s stock. Jefferies Group also issued estimates for CommVault Systems’ Q2 2019 earnings at $0.10 EPS and Q3 2019 earnings at $0.15 EPS.
Other research analysts also recently issued research reports about the company. TheStreet upgraded CommVault Systems from a c rating to a b rating in a report on Monday, April 24th. BidaskClub upgraded CommVault Systems from a hold rating to a buy rating in a report on Monday, July 24th. Mizuho reiterated a buy rating and issued a $75.00 price objective (up previously from $70.00) on shares of CommVault Systems in a report on Monday, July 24th. Lake Street Capital upgraded CommVault Systems from a hold rating to a buy rating in a report on Wednesday, May 3rd. Finally, ValuEngine upgraded CommVault Systems from a sell rating to a hold rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. CommVault Systems currently has a consensus rating of Buy and a consensus target price of $67.00.
CommVault Systems (NASDAQ:CVLT) traded down 0.50% during midday trading on Tuesday, hitting $60.05. The company’s stock had a trading volume of 384,203 shares. CommVault Systems has a 52-week low of $47.61 and a 52-week high of $64.60. The company has a market cap of $2.73 billion, a PE ratio of 1053.51 and a beta of 1.45. The stock has a 50 day moving average of $58.07 and a 200 day moving average of $53.72.
CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 25th. The software maker reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. CommVault Systems had a return on equity of 0.30% and a net margin of 0.35%. The business had revenue of $165.97 million for the quarter, compared to the consensus estimate of $159.92 million. During the same quarter last year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts expect that CommVault Systems will post $1.22 EPS for the current year.
In other CommVault Systems news, SVP Ronald L. Miiller sold 90,500 shares of CommVault Systems stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $57.50, for a total transaction of $5,203,750.00. Following the sale, the senior vice president now directly owns 137,409 shares of the company’s stock, valued at approximately $7,901,017.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Armando Geday sold 7,500 shares of CommVault Systems stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $55.56, for a total value of $416,700.00. Following the sale, the director now directly owns 76,139 shares in the company, valued at $4,230,282.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,730 shares of company stock worth $10,636,988. Insiders own 13.40% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of CommVault Systems by 23,286.9% in the first quarter. BlackRock Inc. now owns 4,239,350 shares of the software maker’s stock worth $215,359,000 after buying an additional 4,221,223 shares in the last quarter. Credit Suisse AG boosted its stake in shares of CommVault Systems by 989.6% in the first quarter. Credit Suisse AG now owns 648,563 shares of the software maker’s stock worth $32,947,000 after buying an additional 589,040 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of CommVault Systems by 156.4% in the first quarter. Citadel Advisors LLC now owns 887,383 shares of the software maker’s stock worth $45,079,000 after buying an additional 541,325 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of CommVault Systems by 58.4% in the first quarter. Champlain Investment Partners LLC now owns 1,162,085 shares of the software maker’s stock worth $59,034,000 after buying an additional 428,585 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of CommVault Systems during the fourth quarter worth approximately $20,653,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.
About CommVault Systems
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