Royal Bank of Canada Reaffirms Hold Rating for CommVault Systems (NASDAQ:CVLT)

Share on StockTwits

CommVault Systems (NASDAQ:CVLT)‘s stock had its “hold” rating restated by Royal Bank of Canada in a report issued on Thursday, AnalystRatings.com reports. They currently have a $48.00 price target on the software maker’s stock. Royal Bank of Canada’s price target points to a potential upside of 8.89% from the company’s current price.

Other analysts have also recently issued reports about the company. Jefferies Financial Group boosted their price objective on CommVault Systems from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday. ValuEngine lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Wednesday, April 29th. Zacks Investment Research raised CommVault Systems from a “sell” rating to a “hold” rating in a report on Wednesday, July 15th. BidaskClub lowered CommVault Systems from a “hold” rating to a “sell” rating in a research report on Thursday, July 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $56.00 price objective on shares of CommVault Systems in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $51.17.

NASDAQ:CVLT opened at $44.08 on Thursday. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 629.80, a PEG ratio of 42.03 and a beta of 0.72. CommVault Systems has a 1 year low of $24.26 and a 1 year high of $51.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.56 and a current ratio of 1.65. The business has a fifty day moving average of $38.58 and a 200-day moving average of $40.96.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, July 28th. The software maker reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.35. CommVault Systems had a net margin of 0.51% and a return on equity of 6.28%. The company had revenue of $173.00 million during the quarter, compared to the consensus estimate of $152.87 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that CommVault Systems will post 0.1 EPS for the current year.

Several hedge funds have recently bought and sold shares of CVLT. BNP Paribas Arbitrage SA lifted its position in CommVault Systems by 10.6% during the first quarter. BNP Paribas Arbitrage SA now owns 89,338 shares of the software maker’s stock worth $3,616,000 after acquiring an additional 8,597 shares during the last quarter. Federated Hermes Inc. grew its position in shares of CommVault Systems by 47.3% in the 1st quarter. Federated Hermes Inc. now owns 335,233 shares of the software maker’s stock valued at $13,570,000 after buying an additional 107,600 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of CommVault Systems by 108.8% in the first quarter. Nuveen Asset Management LLC now owns 552,397 shares of the software maker’s stock valued at $22,361,000 after buying an additional 287,884 shares during the period. State Street Corp increased its stake in shares of CommVault Systems by 2.8% in the first quarter. State Street Corp now owns 1,356,566 shares of the software maker’s stock valued at $54,914,000 after buying an additional 36,373 shares during the period. Finally, Citigroup Inc. raised its position in shares of CommVault Systems by 65.8% during the first quarter. Citigroup Inc. now owns 58,265 shares of the software maker’s stock worth $2,357,000 after acquiring an additional 23,120 shares during the last quarter. 96.39% of the stock is currently owned by institutional investors.

CommVault Systems Company Profile

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

See Also: How are capital gains distributions different for tax-deferred account?

Analyst Recommendations for CommVault Systems (NASDAQ:CVLT)

Receive News & Ratings for CommVault Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommVault Systems and related companies with MarketBeat.com's FREE daily email newsletter.