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

Commvault Systems, Inc. (NASDAQ:CVLT) shares 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. The stock had previously closed at $108.93.

Analysts Set New Price Targets

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

Commvault Systems Price Performance

The stock has a fifty day moving average price of $98.74 and a 200-day moving average price of $85.52. The company 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 Commvault Systems news, CFO Gary Merrill sold 822 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 87,945 shares of the company’s stock, valued at $8,552,651.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $97.82, for a total value of $2,102,543.08. Following the transaction, the chief executive officer now directly 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 at the SEC website. Also, CFO Gary Merrill sold 822 shares of Commvault Systems stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $97.25, for a total value of $79,939.50. Following the completion of the transaction, the chief financial officer now owns 87,945 shares in the company, valued at $8,552,651.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,306 shares of company stock valued at $2,276,265. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Commvault Systems

A number of institutional investors have recently made changes to their positions in CVLT. Headlands Technologies LLC acquired a new stake in Commvault Systems during the fourth quarter worth about $67,000. Daiwa Securities Group Inc. grew its position in Commvault Systems by 700.0% during the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock worth $81,000 after buying an additional 700 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Commvault Systems by 28.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock worth $97,000 after buying an additional 317 shares in the last quarter. Ulland Investment Advisors LLC acquired a new stake in Commvault Systems during the first quarter worth about $180,000. Finally, Central Pacific Bank Trust Division acquired a new stake in Commvault Systems during the first quarter worth about $187,000. 93.50% of the stock is currently owned by institutional investors.

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.