Commvault Systems, Inc. (NASDAQ:CVLT) Given Average Recommendation of “Buy” by Brokerages

Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) has been given an average rating of “Buy” by the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $80.67.

Several research firms have commented on CVLT. Royal Bank of Canada upped their target price on shares of Commvault Systems from $66.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 26th. Lake Street Capital upped their target price on shares of Commvault Systems from $64.00 to $68.00 in a research report on Wednesday, January 26th. Finally, StockNews.com assumed coverage on shares of Commvault Systems in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company.

NASDAQ CVLT opened at $63.56 on Friday. Commvault Systems has a 52 week low of $59.01 and a 52 week high of $84.22. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 94.87, a price-to-earnings-growth ratio of 6.81 and a beta of 0.64. The company has a 50-day moving average price of $64.07 and a two-hundred day moving average price of $66.18.

Commvault Systems (NASDAQ:CVLT – Get Rating) last posted its earnings results on Tuesday, January 25th. The software maker reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). Commvault Systems had a return on equity of 13.10% and a net margin of 4.22%. The firm had revenue of $202.40 million during the quarter, compared to the consensus estimate of $195.04 million. During the same quarter last year, the company posted $0.23 EPS. Commvault Systems’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts anticipate that Commvault Systems will post 0.79 earnings per share for the current year.

In other Commvault Systems news, VP Blasio Riccardo Di sold 15,079 shares of the company’s stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $64.57, for a total value of $973,651.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gary Merrill sold 6,456 shares of the firm’s stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $64.46, for a total value of $416,153.76. The disclosure for this sale can be found here. Insiders sold 22,025 shares of company stock valued at $1,422,213 over the last quarter. Insiders own 0.99% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Commvault Systems by 0.4% during the fourth quarter. BlackRock Inc. now owns 5,043,826 shares of the software maker’s stock valued at $347,619,000 after purchasing an additional 19,247 shares during the last quarter. Starboard Value LP lifted its holdings in shares of Commvault Systems by 5.1% during the fourth quarter. Starboard Value LP now owns 4,289,375 shares of the software maker’s stock valued at $295,624,000 after purchasing an additional 210,000 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Commvault Systems by 36.9% during the fourth quarter. Alliancebernstein L.P. now owns 2,851,465 shares of the software maker’s stock valued at $196,523,000 after purchasing an additional 768,098 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Commvault Systems by 19.1% during the fourth quarter. Mackenzie Financial Corp now owns 2,471,153 shares of the software maker’s stock valued at $170,312,000 after purchasing an additional 397,070 shares during the last quarter. Finally, ETF Managers Group LLC lifted its holdings in shares of Commvault Systems by 12.0% during the fourth quarter. ETF Managers Group LLC now owns 706,695 shares of the software maker’s stock valued at $48,960,000 after purchasing an additional 75,854 shares during the last quarter. 95.44% of the stock is owned by institutional investors and hedge funds.

Commvault Systems Company Profile (Get Rating)

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, an easy-to-use replication and disaster recovery solution; and Commvault Complete Data Protection, an easy-to-use data protection solution.

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