Commvault Systems (NASDAQ:CVLT) Hits New 52-Week High – Should You Buy?

Commvault Systems, Inc. (NASDAQ:CVLT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $178.72 and last traded at $177.79, with a volume of 133140 shares. The stock had previously closed at $175.60.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. KeyCorp raised their target price on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. DA Davidson boosted their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target for the company. Finally, StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.25.

Commvault Systems Trading Up 0.9 %

The stock’s 50 day moving average is $156.68 and its 200 day moving average is $138.74. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 44.46 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. During the same period in the prior year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insider Transactions at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 10,775 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the transaction, the chief executive officer now owns 459,969 shares of the company’s stock, valued at $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary Merrill sold 1,523 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total value of $251,127.47. Following the transaction, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock valued at $2,221,827 over the last three months. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds have recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in shares of Commvault Systems in the 3rd quarter worth $33,000. National Bank of Canada FI acquired a new position in shares of Commvault Systems in the 2nd quarter valued at about $30,000. Hexagon Capital Partners LLC grew its holdings 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 purchasing an additional 196 shares during the period. Signaturefd LLC increased its position in 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 purchasing an additional 170 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Commvault Systems in the third quarter valued at approximately $71,000. Institutional investors and hedge funds 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.