Commvault Systems (NASDAQ:CVLT) Sets New 1-Year High at $101.41

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVLT. KeyCorp upgraded Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price objective on the stock in a report on Wednesday, January 31st. Royal Bank of Canada upped their target price on Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.60.

Commvault Systems Stock Performance

The business 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 posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The company had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $208.01 million. During the same period last year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts predict that Commvault Systems, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sanjay Mirchandani sold 21,494 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 399,356 shares of the company’s stock, valued at approximately $39,065,003.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Commvault Systems news, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the completion of the transaction, the director now owns 7,206 shares of the company’s stock, valued at $682,624.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mirchandani sold 21,494 shares of the firm’s stock in a transaction on 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 sale, 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. Insiders sold 23,306 shares of company stock valued at $2,276,265 in the last three months. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Commvault Systems

Several hedge funds have recently made changes to their positions in CVLT. Lazard Asset Management LLC boosted its holdings in Commvault Systems by 27.6% in the third quarter. Lazard Asset Management LLC now owns 70,516 shares of the software maker’s stock valued at $4,766,000 after acquiring an additional 15,249 shares during the last quarter. Tudor Investment Corp Et Al purchased a new stake in Commvault Systems during the third quarter valued at about $2,611,000. Qube Research & Technologies Ltd purchased a new stake in Commvault Systems during the third quarter valued at about $2,974,000. Vanguard Group Inc. boosted its position in shares of Commvault Systems by 2.7% in the third quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker’s stock worth $366,907,000 after buying an additional 144,625 shares during the period. Finally, Quantedge Capital Pte Ltd lifted its stake in shares of Commvault Systems by 791.7% in the third quarter. Quantedge Capital Pte Ltd now owns 53,500 shares of the software maker’s stock worth $3,617,000 after acquiring an additional 47,500 shares in the last quarter. 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.