Commvault Systems (NASDAQ:CVLT) Sets New 1-Year High at $107.46

Commvault Systems, Inc. (NASDAQ:CVLT)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $107.46 and last traded at $106.49, with a volume of 91006 shares changing hands. The stock had previously closed at $99.43.

Analyst Ratings Changes

CVLT has been the subject of several recent analyst reports. KeyCorp increased their price objective on shares of Commvault Systems from $109.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday. DA Davidson upped their price target on shares of Commvault Systems from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada lifted their price objective on shares of Commvault Systems from $97.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, Lake Street Capital increased their target price on shares of Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $104.40.

Commvault Systems Price Performance

The firm’s fifty day simple moving average is $98.00 and its 200 day simple moving average is $84.57. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of -3,422.53 and a beta of 0.62.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $216.81 million for the quarter, compared to analysts’ expectations of $208.01 million. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. Equities research analysts forecast that Commvault Systems, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other Commvault Systems news, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the completion of the sale, the director now directly owns 7,206 shares in the company, valued at approximately $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Commvault Systems news, CEO Sanjay Mirchandani sold 21,494 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.82, for a total value of $2,102,543.08. Following the completion of the sale, the chief executive officer now owns 399,356 shares in the company, valued at approximately $39,065,003.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Allison Pickens sold 990 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the transaction, the director now owns 7,206 shares in the company, valued at $682,624.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,306 shares of company stock worth $2,276,265. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Commvault Systems

A number of institutional investors have recently bought and sold shares of CVLT. Vanguard Group Inc. raised its stake in shares of Commvault Systems by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock worth $366,907,000 after purchasing an additional 144,625 shares in the last quarter. Lazard Asset Management LLC raised its position in Commvault Systems by 27.6% during the third quarter. Lazard Asset Management LLC now owns 70,516 shares of the software maker’s stock valued at $4,766,000 after acquiring an additional 15,249 shares in the last quarter. Tudor Investment Corp Et Al acquired a new stake in Commvault Systems in the third quarter valued at approximately $2,611,000. Qube Research & Technologies Ltd bought a new stake in Commvault Systems in the third quarter worth approximately $2,974,000. Finally, Quantedge Capital Pte Ltd increased its stake in shares of Commvault Systems by 791.7% during the 3rd quarter. Quantedge Capital Pte Ltd now owns 53,500 shares of the software maker’s stock worth $3,617,000 after purchasing an additional 47,500 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Commvault Systems Company Profile

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.