CommVault Systems, Inc. (NASDAQ:CVLT) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of CommVault Systems, Inc. (NASDAQ:CVLT) from a hold rating to a buy rating in a research note published on Monday, July 24th.

Other research analysts have also issued reports about the company. TheStreet raised CommVault Systems from a c rating to a b rating in a research report on Monday, April 24th. Jefferies Group LLC boosted their target price on CommVault Systems from $64.00 to $67.00 and gave the company a buy rating in a research report on Monday, May 15th. Mizuho boosted their target price on CommVault Systems from $60.00 to $62.00 and gave the company a buy rating in a research report on Thursday, May 4th. Lake Street Capital upgraded CommVault Systems from a hold rating to a buy rating in a research note on Wednesday, May 3rd. Finally, ValuEngine upgraded CommVault Systems from a sell rating to a hold rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. CommVault Systems has a consensus rating of Buy and an average price target of $67.00.

CommVault Systems (NASDAQ:CVLT) opened at 58.30 on Monday. CommVault Systems has a 52 week low of $47.61 and a 52 week high of $64.60. The company’s 50-day moving average price is $58.99 and its 200 day moving average price is $54.34. The company has a market capitalization of $2.65 billion, a PE ratio of 1022.81 and a beta of 1.45.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 25th. The software maker reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. CommVault Systems had a return on equity of 0.30% and a net margin of 0.35%. The firm had revenue of $165.97 million during the quarter, compared to analyst estimates of $159.92 million. During the same period last year, the company posted $0.21 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that CommVault Systems will post $1.22 EPS for the current year.

In other CommVault Systems news, VP Brian Carolan sold 4,000 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $59.90, for a total transaction of $239,600.00. Following the sale, the vice president now owns 79,793 shares of the company’s stock, valued at approximately $4,779,600.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary Merrill sold 5,246 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $55.06, for a total transaction of $288,844.76. Following the sale, the insider now directly owns 20,822 shares in the company, valued at approximately $1,146,459.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,993 shares of company stock worth $4,841,639. 13.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CVLT. Teachers Advisors LLC raised its position 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 during the period. Highbridge Capital Management LLC raised its position 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 during the period. Bank of Nova Scotia bought a new position in shares of CommVault Systems during the first quarter valued at about $5,080,000. MARSHALL WACE ASIA Ltd bought a new position in shares of CommVault Systems during the first quarter valued at about $5,366,000. Finally, Swiss National Bank raised its position 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 during the period. Institutional investors own 85.44% of the company’s stock.

About CommVault Systems