ValuEngine upgraded shares of CommVault Systems (NASDAQ:CVLT) from a hold rating to a buy rating in a research note issued to investors on Friday.
Other research analysts have also issued reports about the company. BidaskClub upgraded CommVault Systems from a hold rating to a buy rating in a report on Saturday, July 7th. Zacks Investment Research raised CommVault Systems from a hold rating to a buy rating and set a $71.00 price target for the company in a report on Tuesday, October 9th. Finally, Mitsubishi UFJ Financial Group lifted their price target on CommVault Systems and gave the stock a neutral rating in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. CommVault Systems currently has a consensus rating of Buy and an average price target of $76.57.
NASDAQ:CVLT opened at $55.15 on Friday. The firm has a market capitalization of $2.65 billion, a P/E ratio of -93.47, a P/E/G ratio of 6.13 and a beta of 1.17. CommVault Systems has a 12-month low of $48.35 and a 12-month high of $72.65.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in CommVault Systems by 5.7% during the 2nd quarter. BlackRock Inc. now owns 4,691,145 shares of the software maker’s stock worth $308,910,000 after buying an additional 254,649 shares during the last quarter. FMR LLC increased its position in shares of CommVault Systems by 5.5% during the second quarter. FMR LLC now owns 1,787,322 shares of the software maker’s stock worth $117,696,000 after purchasing an additional 93,309 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of CommVault Systems by 17.3% during the second quarter. Renaissance Technologies LLC now owns 1,599,800 shares of the software maker’s stock worth $105,347,000 after purchasing an additional 236,400 shares in the last quarter. Northern Trust Corp increased its position in shares of CommVault Systems by 3.1% during the second quarter. Northern Trust Corp now owns 654,209 shares of the software maker’s stock worth $43,079,000 after purchasing an additional 19,564 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd increased its position in shares of CommVault Systems by 196.8% during the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 430,530 shares of the software maker’s stock worth $30,137,000 after purchasing an additional 285,486 shares in the last quarter. 90.63% of the stock is owned by institutional investors.
About CommVault Systems
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.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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