Commvault Systems (NASDAQ:CVLT) Reaches New 12-Month High – Time to Buy?

Commvault Systems, Inc. (NASDAQ:CVLT)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $181.74 and last traded at $181.59, with a volume of 102285 shares traded. The stock had previously closed at $178.55.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CVLT shares. Royal Bank of Canada increased their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Cantor Fitzgerald raised their price target on Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Finally, Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Commvault Systems currently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Price Performance

The stock has a market cap of $8.14 billion, a P/E ratio of 48.53 and a beta of 0.65. The business’s 50 day simple moving average is $162.74 and its 200 day simple moving average is $157.38.

Insiders Place Their Bets

In other news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the transaction, the insider now owns 93,007 shares in the company, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the transaction, the director now owns 5,899 shares of the company’s stock, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock worth $2,244,755 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quarry LP grew its holdings in Commvault Systems by 888.2% during the fourth quarter. Quarry LP now owns 168 shares of the software maker’s stock valued at $25,000 after purchasing an additional 151 shares during the period. Capital Performance Advisors LLP bought a new stake in Commvault Systems during the third quarter worth $33,000. TFC Financial Management Inc. raised its position in Commvault Systems by 294.1% during the fourth quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock worth $61,000 after acquiring an additional 300 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Commvault Systems during the third quarter worth $71,000. Finally, Signaturefd LLC raised its position in shares of Commvault Systems by 43.9% in the third quarter. Signaturefd LLC now owns 590 shares of the software maker’s stock valued at $91,000 after purchasing an additional 180 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.