CommVault Systems, Inc. (NASDAQ:CVLT) Given New $75.00 Price Target at Jefferies Group LLC
CommVault Systems, Inc. (NASDAQ:CVLT) had its target price increased by analysts at Jefferies Group LLC from $67.00 to $75.00 in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the software maker’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 18.67% from the company’s current price.
CVLT has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of CommVault Systems from a “sell” rating to a “hold” rating in a report on Tuesday, March 28th. Royal Bank Of Canada reiterated a “hold” rating and set a $58.00 price target on shares of CommVault Systems in a report on Friday, March 31st. BidaskClub upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a report on Monday. Lake Street Capital upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a report on Wednesday, May 3rd. Finally, Mizuho reiterated a “buy” rating and set a $75.00 price target (up previously from $70.00) on shares of CommVault Systems in a report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $62.56.
CommVault Systems (CVLT) traded up 3.52% during trading on Tuesday, reaching $63.20. The company’s stock had a trading volume of 1,154,838 shares. CommVault Systems has a one year low of $47.44 and a one year high of $64.60. The firm has a market cap of $2.84 billion, a PE ratio of 6320.00 and a beta of 1.44. The company has a 50-day moving average of $57.63 and a 200 day moving average of $53.49.
CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, July 25th. The software maker reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. CommVault Systems had a net margin of 0.08% and a negative return on equity of 1.04%. The firm had revenue of $165.97 million for the quarter, compared to analysts’ expectations of $159.92 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts expect that CommVault Systems will post $1.19 EPS for the current fiscal year.
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In related news, insider Al Bunte sold 34,607 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 507,171 shares in the company, valued at $28,198,707.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian Carolan sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $56.35, for a total transaction of $281,750.00. Following the completion of the sale, the vice president now owns 85,828 shares in the company, valued at approximately $4,836,407.80. The disclosure for this sale can be found here. Insiders sold 177,730 shares of company stock worth $10,133,388 in the last 90 days. 13.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Teachers Advisors LLC boosted its stake in shares of CommVault Systems by 3.2% in the fourth quarter. Teachers Advisors LLC now owns 354,829 shares of the software maker’s stock valued at $18,238,000 after buying an additional 11,090 shares in the last quarter. Highbridge Capital Management LLC boosted its stake in shares of CommVault Systems by 23.6% in the fourth quarter. Highbridge Capital Management LLC now owns 29,734 shares of the software maker’s stock valued at $1,529,000 after buying an additional 5,674 shares in the last quarter. Bank of Nova Scotia bought a new stake in shares of CommVault Systems during the first quarter valued at about $5,080,000. Swiss National Bank boosted its stake in shares of CommVault Systems by 2.3% in the first quarter. Swiss National Bank now owns 70,900 shares of the software maker’s stock valued at $3,602,000 after buying an additional 1,600 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of CommVault Systems during the first quarter valued at about $5,366,000. Institutional investors own 89.25% of the company’s stock.
About CommVault Systems
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