Commvault Systems (NASDAQ:CVLT) Sets New 52-Week High at $107.46

Commvault Systems, Inc. (NASDAQ:CVLT) shares hit a new 52-week high on Tuesday . The stock traded as high as $107.46 and last traded at $106.49, with a volume of 91006 shares. The stock had previously closed at $99.43.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVLT shares. KeyCorp upgraded Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price target on the stock in a research report on Wednesday, January 31st. Royal Bank of Canada boosted their target price on Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. 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 company’s stock. According to data from MarketBeat.com, Commvault Systems has an average rating of “Moderate Buy” and an average price target of $85.60.

Commvault Systems Stock Performance

The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -3,542.49 and a beta of 0.62. The firm has a fifty day moving average price of $97.59 and a 200 day moving average price of $84.20.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating 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 the consensus estimate of $208.01 million. During the same quarter last year, the company earned $0.17 earnings per share. Commvault Systems’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts predict that Commvault Systems, Inc. will post 1.35 earnings per share for the current fiscal year.

Insider Activity at Commvault Systems

In related news, CFO Gary Merrill sold 822 shares of Commvault Systems stock in a transaction on Monday, March 4th. The stock was sold at an average price of $97.25, for a total transaction of $79,939.50. Following the completion of the transaction, the chief financial officer now directly owns 87,945 shares of the company’s stock, valued at $8,552,651.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Gary Merrill sold 822 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.25, for a total value of $79,939.50. Following the sale, the chief financial officer now directly owns 87,945 shares in the company, valued at $8,552,651.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction that occurred on 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 of the company’s stock, valued at $682,624.38. The disclosure for this sale can be found here. Insiders sold 23,306 shares of company stock worth $2,276,265 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

A number of large investors have recently made changes to their positions in CVLT. Headlands Technologies LLC purchased a new position in Commvault Systems in the 4th quarter valued at about $67,000. PNC Financial Services Group Inc. lifted its stake in shares of 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 valued at $97,000 after buying an additional 317 shares during the period. Ulland Investment Advisors LLC acquired a new stake in Commvault Systems during the first quarter worth approximately $180,000. Vise Technologies Inc. purchased a new stake in Commvault Systems in the 4th quarter worth approximately $212,000. Finally, Marks Group Wealth Management Inc acquired a new position in Commvault Systems in the 1st quarter valued at $219,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.