Commvault Systems (NASDAQ:CVLT) Hits New 12-Month High at $109.55

Commvault Systems, Inc. (NASDAQ:CVLT)’s share price reached a new 52-week high on Tuesday . The company traded as high as $109.55 and last traded at $109.19, with a volume of 47794 shares changing hands. The stock had previously closed at $108.93.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. DA Davidson raised their price objective on shares of Commvault Systems from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Lake Street Capital raised their price objective on shares of Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $97.00 to $112.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 1st. Finally, KeyCorp raised their price objective on shares of Commvault Systems from $109.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $114.25.

Commvault Systems Price Performance

The business’s fifty day moving average is $98.74 and its 200-day moving average is $85.52. The firm has a market cap of $4.76 billion, a PE ratio of 28.97 and a beta of 0.64.

Insider Transactions at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction dated 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 transaction, the chief executive officer now owns 399,356 shares in the company, valued at $39,065,003.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction dated 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 transaction, the chief executive officer now owns 399,356 shares in the company, valued at $39,065,003.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gary Merrill sold 822 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.25, for a total transaction of $79,939.50. Following the completion of the transaction, the chief financial officer now owns 87,945 shares of the company’s stock, valued at $8,552,651.25. The disclosure for this sale can be found here. Insiders sold 23,306 shares of company stock worth $2,276,265 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Large investors have recently modified their holdings of the company. Amalgamated Bank lifted its holdings in shares of Commvault Systems by 0.6% in the 4th quarter. Amalgamated Bank now owns 27,504 shares of the software maker’s stock worth $2,196,000 after acquiring an additional 160 shares during the last quarter. State of Michigan Retirement System increased its stake in shares of Commvault Systems by 1.9% in the first quarter. State of Michigan Retirement System now owns 10,712 shares of the software maker’s stock worth $1,087,000 after buying an additional 200 shares during the period. Inspire Investing LLC increased its stake in shares of Commvault Systems by 5.4% in the third quarter. Inspire Investing LLC now owns 4,548 shares of the software maker’s stock worth $307,000 after buying an additional 231 shares during the period. M&T Bank Corp increased its stake in shares of Commvault Systems by 5.4% in the fourth quarter. M&T Bank Corp now owns 4,647 shares of the software maker’s stock worth $371,000 after buying an additional 240 shares during the period. Finally, Strs Ohio increased its stake in shares of Commvault Systems by 1.8% in the third quarter. Strs Ohio now owns 16,600 shares of the software maker’s stock worth $1,122,000 after buying an additional 300 shares during the period. 93.50% of the stock is currently owned by institutional investors.

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.