CommVault Systems Inc. (CVLT) Given Buy Rating at Jefferies Group
CommVault Systems Inc. (NASDAQ:CVLT)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group in a note issued to investors on Thursday. They presently have a $64.00 price objective on the stock. Jefferies Group’s price objective would indicate a potential upside of 16.28% from the company’s current price.
A number of other equities research analysts have also recently commented on the stock. Stifel Nicolaus increased their price target on shares of CommVault Systems from $55.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, July 26th. Summit Redstone restated a “buy” rating and issued a $55.00 target price on shares of CommVault Systems in a report on Tuesday, July 5th. JMP Securities restated a “buy” rating on shares of CommVault Systems in a report on Wednesday, August 31st. Mizuho raised their target price on shares of CommVault Systems from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Finally, Royal Bank Of Canada raised their target price on shares of CommVault Systems from $47.00 to $54.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 27th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $50.21.
Shares of CommVault Systems (NASDAQ:CVLT) traded up 0.51% during midday trading on Thursday, hitting $55.32. The company’s stock had a trading volume of 93,548 shares. CommVault Systems has a 52-week low of $29.41 and a 52-week high of $55.33. The firm’s market cap is $2.46 billion. The stock’s 50 day moving average is $52.50 and its 200-day moving average is $46.96.
CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. CommVault Systems had a negative net margin of 0.10% and a negative return on equity of 1.33%. The firm had revenue of $152.40 million for the quarter, compared to analysts’ expectations of $149.15 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts predict that CommVault Systems will post $0.96 EPS for the current fiscal year.
In other news, SVP Ronald L. Miiller sold 31,727 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $50.44, for a total transaction of $1,600,309.88. Following the sale, the senior vice president now directly owns 156,649 shares in the company, valued at approximately $7,901,375.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC increased its stake in shares of CommVault Systems by 67.5% in the second quarter. LS Investment Advisors LLC now owns 2,493 shares of the company’s stock worth $108,000 after buying an additional 1,005 shares in the last quarter. Cantab Capital Partners LLP bought a new stake in shares of CommVault Systems during the second quarter worth about $159,000. Calamos Advisors LLC bought a new stake in shares of CommVault Systems during the second quarter worth about $206,000. Trexquant Investment LP bought a new stake in shares of CommVault Systems during the second quarter worth about $259,000. Finally, Teacher Retirement System of Texas increased its stake in shares of CommVault Systems by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,047 shares of the company’s stock worth $261,000 after buying an additional 731 shares in the last quarter. Hedge funds and other institutional investors own 91.50% of the company’s stock.
About CommVault Systems
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