Today, Commvault Systems Inc. (CVLT) Given Average Recommendation of “Buy” from Analysts

Today, Commvault Systems Inc. (CVLT) Given Average Recommendation of “Buy” from Analysts
Shares of Commvault Systems Inc. (NASDAQ:CVLT) have earned an average rating of “Buy” from the sixteen brokerages that are currently covering the stock. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $54.33.

A number of equities analysts have commented on CVLT shares. JMP Securities restated a “buy” rating on shares of Commvault Systems in a research report on Wednesday, August 31st. Mizuho boosted their price target on shares of Commvault Systems from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Jefferies Group boosted their price target on shares of Commvault Systems from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, September 14th. Stifel Nicolaus boosted their price target on shares of Commvault Systems from $62.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 6th. Finally, KeyCorp boosted their price target on shares of Commvault Systems from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, October 6th.

Shares of Commvault Systems (NASDAQ:CVLT) traded down 0.315% during mid-day trading on Friday, reaching $55.425. 54,243 shares of the company were exchanged. The firm has a 50-day moving average price of $53.88 and a 200 day moving average price of $49.76. The stock has a market capitalization of $2.51 billion, a P/E ratio of 322.238 and a beta of 1.48. Commvault Systems has a 12 month low of $29.41 and a 12 month high of $57.25.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. The firm had revenue of $159.30 million for the quarter, compared to analyst estimates of $152.90 million. Commvault Systems had a net margin of 1.29% and a return on equity of 0.60%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share. Equities research analysts anticipate that Commvault Systems will post $0.99 EPS for the current fiscal year.

In related news, VP Brian Carolan sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $56.40, for a total transaction of $394,800.00. Following the completion of the transaction, the vice president now owns 87,105 shares in the company, valued at $4,912,722. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Ronald L. Miiller sold 21,152 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $52.92, for a total transaction of $1,119,363.84. Following the transaction, the senior vice president now owns 127,120 shares of the company’s stock, valued at approximately $6,727,190.40. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD boosted its position in Commvault Systems by 27.6% in the first quarter. BlackRock Group LTD now owns 30,657 shares of the company’s stock valued at $1,323,000 after buying an additional 6,639 shares during the period. Geode Capital Management LLC boosted its position in Commvault Systems by 10.8% in the first quarter. Geode Capital Management LLC now owns 308,665 shares of the company’s stock valued at $13,325,000 after buying an additional 30,078 shares during the period. A.R.T. Advisors LLC boosted its position in Commvault Systems by 251.1% in the first quarter. A.R.T. Advisors LLC now owns 22,791 shares of the company’s stock valued at $983,000 after buying an additional 16,300 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Commvault Systems by 1.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 68,660 shares of the company’s stock valued at $2,964,000 after buying an additional 1,290 shares during the period. Finally, Royal Bank of Canada boosted its position in Commvault Systems by 1.4% in the first quarter. Royal Bank of Canada now owns 314,513 shares of the company’s stock valued at $13,578,000 after buying an additional 4,310 shares during the period. Institutional investors own 91.37% of the company’s stock.

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