Commvault Systems (NASDAQ:CVLT) Sets New 1-Year High – What’s Next?

Commvault Systems, Inc. (NASDAQ:CVLT) shares hit a new 52-week high on Monday . The company traded as high as $165.50 and last traded at $164.34, with a volume of 25609 shares changing hands. The stock had previously closed at $162.70.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CVLT shares. Guggenheim reiterated a “buy” rating and issued a $122.00 target price on shares of Commvault Systems in a report on Tuesday, June 25th. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. KeyCorp lifted their price objective on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, DA Davidson lifted their price target on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Commvault Systems Trading Up 0.2 %

The firm has a market cap of $7.14 billion, a P/E ratio of 43.27 and a beta of 0.60. The company has a fifty day moving average price of $150.40 and a two-hundred day moving average price of $125.99.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The firm had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. During the same quarter in the previous year, the business posted $0.29 EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insider Transactions at Commvault Systems

In other news, Director Allison Pickens sold 1,232 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the sale, the director now owns 7,131 shares in the company, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now directly owns 7,131 shares in the company, valued at $1,097,389.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new position in Commvault Systems in the 2nd quarter valued at $30,000. Hexagon Capital Partners LLC lifted its position in shares of Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after buying an additional 196 shares during the last quarter. Signaturefd LLC lifted its position in shares of Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after buying an additional 170 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock worth $64,000 after buying an additional 309 shares during the last quarter. Finally, DT Investment Partners LLC bought a new stake in shares of Commvault Systems during the 2nd quarter worth $69,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.