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

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) reached a new 52-week high during trading on Tuesday . The company traded as high as $107.46 and last traded at $106.49, with a volume of 91006 shares traded. The stock had previously closed at $99.43.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVLT. KeyCorp upped their price target on shares of Commvault Systems from $109.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada upped their target price on Commvault Systems from $97.00 to $112.00 and gave the company a “sector perform” rating in a research report on Wednesday. Lake Street Capital lifted their price target on Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, DA Davidson boosted their price target on Commvault Systems from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

Commvault Systems Stock Up 0.2 %

The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of -3,422.53 and a beta of 0.62. The business’s 50-day moving average is $98.00 and its 200-day moving average is $84.57.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The business 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%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, analysts expect that Commvault Systems, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In other news, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Allison Pickens sold 990 shares of the stock in a transaction dated Monday, February 26th. The shares were 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 approximately $682,624.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 21,494 shares of the firm’s 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 sale, the chief executive officer now owns 399,356 shares in the company, valued at $39,065,003.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,306 shares of company stock valued at $2,276,265. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CVLT. Headlands Technologies LLC purchased a new position in Commvault Systems in the 4th quarter worth approximately $67,000. PNC Financial Services Group Inc. grew its stake in Commvault Systems by 28.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after purchasing an additional 317 shares in the last quarter. Ulland Investment Advisors LLC purchased a new stake in shares of Commvault Systems during the first quarter worth approximately $180,000. Marks Group Wealth Management Inc purchased a new stake in shares of Commvault Systems during the 1st quarter worth $219,000. Finally, Vise Technologies Inc. acquired a new position in shares of Commvault Systems during the 4th quarter worth about $212,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.