The Brokerages Set Commvault Systems Inc. (CVLT) Price Target at $54.33

The Brokerages Set Commvault Systems Inc. (CVLT) Price Target at $54.33

Commvault Systems Inc. (NASDAQ:CVLT) has been assigned an average recommendation of “Buy” from the sixteen ratings firms that are currently covering the firm. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $54.33.

Several equities analysts have commented on CVLT shares. Stifel Nicolaus lifted their target price on shares of Commvault Systems from $62.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 6th. Jefferies Group raised their price target on shares of Commvault Systems from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Mizuho raised their price target on shares of Commvault Systems from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, September 9th. Royal Bank Of Canada raised their price target on shares of Commvault Systems from $54.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 26th. Finally, Zacks Investment Research upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Wednesday, October 26th.

Shares of Commvault Systems (NASDAQ:CVLT) opened at 55.45 on Friday. Commvault Systems has a 1-year low of $29.41 and a 1-year high of $57.25. The firm’s 50-day moving average price is $53.83 and its 200 day moving average price is $49.85. The company has a market capitalization of $2.51 billion, a PE ratio of 322.38 and a beta of 1.48.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, October 25th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Commvault Systems had a net margin of 1.29% and a return on equity of 0.60%. The firm had revenue of $159.30 million for the quarter, compared to analysts’ expectations of $152.90 million. During the same quarter last year, the firm earned $0.15 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. Equities analysts predict that Commvault Systems will post $0.99 EPS for the current fiscal year.

In other news, VP Brian Carolan sold 7,000 shares of the business’s stock in a transaction 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 directly owns 87,105 shares in the company, valued at approximately $4,912,722. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 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 $6,727,190.40. The disclosure for this sale can be found here. 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. Victory Capital Management Inc. bought a new stake in Commvault Systems during the third quarter worth about $90,807,000. Mesirow Financial Investment Management Equity Management bought a new stake in Commvault Systems during the second quarter worth about $23,156,000. RS Investment Management Co. LLC increased its stake in Commvault Systems by 20.7% in the second quarter. RS Investment Management Co. LLC now owns 1,650,622 shares of the company’s stock worth $71,290,000 after buying an additional 282,705 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Commvault Systems during the second quarter worth about $11,670,000. Finally, Columbus Circle Investors bought a new stake in Commvault Systems during the third quarter worth about $13,963,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.

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