Commvault Systems (NASDAQ:CVLT) Sets New 1-Year High at $101.41

Commvault Systems, Inc. (NASDAQ:CVLT)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $101.41 and last traded at $101.39, with a volume of 26939 shares traded. The stock had previously closed at $100.26.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. KeyCorp upgraded Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price objective on the stock in a report on Wednesday, January 31st. Royal Bank of Canada increased their price objective on Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. Two 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.60.

Commvault Systems Stock Performance

The firm has a 50 day simple moving average of $93.39 and a 200-day simple moving average of $79.34.

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

Insider Activity

In other news, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the sale, the director now directly owns 7,206 shares in the company, valued at $682,624.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction dated Monday, March 4th. The stock was 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 directly owns 399,356 shares in the company, valued at $39,065,003.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the sale, the director now owns 7,206 shares of the company’s stock, valued at $682,624.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,306 shares of company stock worth $2,276,265. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Commvault Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its holdings in shares of Commvault Systems by 25.7% during the 1st quarter. Raymond James & Associates now owns 26,393 shares of the software maker’s stock valued at $1,751,000 after purchasing an additional 5,402 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Commvault Systems by 36.1% during the 1st quarter. American Century Companies Inc. now owns 23,076 shares of the software maker’s stock worth $1,531,000 after acquiring an additional 6,118 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Commvault Systems by 34.1% in the 1st quarter. MetLife Investment Management LLC now owns 50,861 shares of the software maker’s stock valued at $3,375,000 after purchasing an additional 12,933 shares during the period. Rhumbline Advisers boosted its stake in Commvault Systems by 1.9% in the 1st quarter. Rhumbline Advisers now owns 126,222 shares of the software maker’s stock valued at $8,375,000 after purchasing an additional 2,363 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Commvault Systems by 8.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,331 shares of the software maker’s stock valued at $1,084,000 after purchasing an additional 1,243 shares during the period. Institutional investors 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.