Commvault Systems (NASDAQ:CVLT) Sets New 12-Month High at $101.41

Commvault Systems, Inc. (NASDAQ:CVLT)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $101.41 and last traded at $101.39, with a volume of 26939 shares traded. The stock had previously closed at $100.26.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. KeyCorp raised Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price target on the stock in a research note on Wednesday, January 31st. 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.60.

Commvault Systems Stock Performance

The stock has a 50 day simple moving average of $93.39 and a two-hundred day simple moving average of $79.34.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $216.81 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 EPS. Equities analysts forecast that Commvault Systems, Inc. will post 1.35 EPS for the current fiscal year.

Insider Activity at Commvault Systems

In other Commvault Systems news, CEO Sanjay Mirchandani sold 21,494 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the sale, the chief executive officer now owns 399,356 shares in the company, valued at approximately $39,065,003.92. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $94.73, for a total value of $93,782.70. Following the transaction, the director now owns 7,206 shares in the company, valued at approximately $682,624.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mirchandani sold 21,494 shares of the 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 approximately $39,065,003.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,306 shares of company stock worth $2,276,265. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVLT. Quarry LP purchased a new position in shares of Commvault Systems in the 1st quarter valued at about $26,000. Captrust Financial Advisors boosted its position in shares of Commvault Systems by 64.0% in the 2nd quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock valued at $32,000 after purchasing an additional 199 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of Commvault Systems in the 4th quarter valued at about $33,000. Quantbot Technologies LP acquired a new stake in shares of Commvault Systems in the 2nd quarter valued at about $64,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Commvault Systems in the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.