Commvault Systems (NASDAQ:CVLT) Reaches New 12-Month High – What’s Next?

Commvault Systems, Inc. (NASDAQ:CVLT)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $171.50 and last traded at $171.50, with a volume of 5954 shares. The stock had previously closed at $159.41.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. KeyCorp upped their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. DA Davidson upped their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.29.

Commvault Systems Trading Down 0.1 %

The company has a market cap of $7.50 billion, a P/E ratio of 43.45 and a beta of 0.59. The stock’s 50 day moving average is $151.01 and its 200-day moving average is $132.52.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. As a group, sell-side analysts forecast that Commvault Systems, Inc. will post 1.62 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the completion of the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the sale, the director now owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Trading of Commvault Systems

Several large investors have recently bought and sold shares of CVLT. Caprock Group LLC purchased a new stake in shares of Commvault Systems during the 3rd quarter valued at about $249,000. Lindenwold Advisors INC boosted its position in Commvault Systems by 2.4% during the 3rd quarter. Lindenwold Advisors INC now owns 7,028 shares of the software maker’s stock valued at $1,081,000 after purchasing an additional 164 shares during the period. Strengthening Families & Communities LLC raised its stake in Commvault Systems by 11.2% during the 3rd quarter. Strengthening Families & Communities LLC now owns 17,791 shares of the software maker’s stock valued at $2,737,000 after acquiring an additional 1,791 shares in the last quarter. Sawgrass Asset Management LLC bought a new stake in shares of Commvault Systems in the 3rd quarter worth $207,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Commvault Systems in the 3rd quarter worth $206,000. 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.