Commvault Systems (NASDAQ:CVLT) Reaches New 12-Month High – What’s Next?

Commvault Systems, Inc. (NASDAQ:CVLT) shares hit a new 52-week high on Wednesday . The stock traded as high as $171.50 and last traded at $171.50, with a volume of 5954 shares trading hands. The stock had previously closed at $159.41.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CVLT. KeyCorp raised their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Piper Sandler lifted their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. DA Davidson lifted their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.29.

Commvault Systems Stock Performance

The stock has a 50-day moving average price of $151.01 and a two-hundred day moving average price of $132.52. The stock has a market capitalization of $7.50 billion, a PE ratio of 43.45 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, equities analysts predict that Commvault Systems, Inc. will post 1.62 earnings per share for the current year.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the transaction, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

Institutional investors have recently modified their holdings of the company. National Bank of Canada FI acquired a new stake in shares of Commvault Systems in the 2nd quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new stake in shares of Commvault Systems during the third quarter valued at about $33,000. Hexagon Capital Partners LLC grew its stake in shares of Commvault Systems by 124.8% during the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after acquiring an additional 196 shares in the last quarter. Signaturefd LLC grew its stake in Commvault Systems by 70.8% in the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after purchasing an additional 170 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Commvault Systems in the second quarter worth about $56,000. 93.50% of the stock is owned by institutional investors and hedge funds.

About Commvault Systems

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.