CommVault Systems, Inc. (CVLT) Receives Average Rating of “Buy” from Brokerages

Shares of CommVault Systems, Inc. (NASDAQ:CVLT) have been given an average rating of “Buy” by the fifteen analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $69.71.

A number of brokerages have recently issued reports on CVLT. Royal Bank of Canada reissued a “hold” rating on shares of CommVault Systems in a research note on Monday, October 9th. UBS Group downgraded CommVault Systems from an “overweight” rating to a “neutral” rating in a research note on Tuesday, October 24th. BidaskClub raised CommVault Systems from a “strong sell” rating to a “sell” rating in a research note on Thursday. Wells Fargo & Co began coverage on CommVault Systems in a research note on Tuesday, November 14th. They issued an “outperform” rating and a $64.00 price objective on the stock. Finally, Mitsubishi UFJ Financial Group downgraded CommVault Systems from an “overweight” rating to a “neutral” rating in a research note on Wednesday, October 25th.

CommVault Systems (NASDAQ:CVLT) opened at $54.12 on Friday. The stock has a market capitalization of $2,510.00, a PE ratio of 1,804.00, a PEG ratio of 64.24 and a beta of 1.44. CommVault Systems has a 52 week low of $47.61 and a 52 week high of $64.60.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, October 24th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The business had revenue of $168.14 million during the quarter, compared to analyst estimates of $170.15 million. CommVault Systems had a net margin of 0.28% and a negative return on equity of 0.17%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. equities research analysts anticipate that CommVault Systems will post 0.04 EPS for the current year.

In related news, insider Gary Merrill sold 7,260 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $62.28, for a total transaction of $452,152.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its stake in shares of CommVault Systems by 1,529.5% in the third quarter. Public Employees Retirement System of Ohio now owns 19,326 shares of the software maker’s stock worth $1,175,000 after purchasing an additional 18,140 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of CommVault Systems by 117.5% in the third quarter. GSA Capital Partners LLP now owns 21,843 shares of the software maker’s stock worth $1,328,000 after purchasing an additional 11,801 shares during the last quarter. Ashford Capital Management Inc. purchased a new stake in shares of CommVault Systems in the third quarter worth approximately $8,306,000. Sterling Capital Management LLC raised its stake in shares of CommVault Systems by 15.9% in the third quarter. Sterling Capital Management LLC now owns 35,147 shares of the software maker’s stock worth $2,137,000 after purchasing an additional 4,827 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of CommVault Systems by 3.2% in the third quarter. California Public Employees Retirement System now owns 90,726 shares of the software maker’s stock worth $5,516,000 after purchasing an additional 2,826 shares during the last quarter. 88.33% of the stock is currently owned by institutional investors and hedge funds.

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