Commvault Systems (NASDAQ:CVLT) Sets New 52-Week High at $107.46

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CVLT shares. Royal Bank of Canada boosted their price objective on Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. KeyCorp upgraded Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price target for the company in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Commvault Systems currently has an average rating of “Moderate Buy” and a consensus price target of $85.60.

Commvault Systems Trading Up 1.3 %

The stock has a market cap of $4.41 billion, a price-to-earnings ratio of -3,542.49 and a beta of 0.62. The firm has a fifty day simple moving average of $97.59 and a 200 day simple moving average of $84.20.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $208.01 million. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. Commvault Systems’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. On average, equities analysts expect that Commvault Systems, Inc. will post 1.35 earnings per share for the current 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 other Commvault Systems news, CFO Gary Merrill sold 822 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.25, for a total transaction of $79,939.50. Following the transaction, the chief financial officer now directly owns 87,945 shares in the company, valued at approximately $8,552,651.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Allison Pickens sold 990 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now directly owns 7,206 shares of the company’s stock, valued at $682,624.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,306 shares of company stock worth $2,276,265. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Institutional investors have recently bought and sold shares of the business. Marks Group Wealth Management Inc acquired a new stake in shares of Commvault Systems during the first quarter worth $219,000. Ulland Investment Advisors LLC acquired a new position in Commvault Systems in the first quarter valued at about $180,000. Louisiana State Employees Retirement System raised its position in shares of Commvault Systems by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 12,600 shares of the software maker’s stock worth $1,278,000 after purchasing an additional 300 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Commvault Systems by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 10,712 shares of the software maker’s stock valued at $1,087,000 after purchasing an additional 200 shares in the last quarter. Finally, Diversified Trust Co grew its position in shares of Commvault Systems by 33.2% in the 1st quarter. Diversified Trust Co now owns 8,523 shares of the software maker’s stock valued at $864,000 after purchasing an additional 2,122 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.