Commvault Systems (NASDAQ:CVLT) Reaches New 52-Week High at $143.32

Commvault Systems, Inc. (NASDAQ:CVLT)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $143.32 and last traded at $141.88, with a volume of 84811 shares. The stock had previously closed at $123.20.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. KeyCorp raised their price target on shares of Commvault Systems from $122.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, July 2nd. Piper Sandler raised their price target on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Royal Bank of Canada raised their price target on shares of Commvault Systems from $97.00 to $112.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 1st. Finally, StockNews.com upgraded shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Commvault Systems currently has a consensus rating of “Moderate Buy” and an average target price of $124.29.

Commvault Systems Trading Up 19.8 %

The company’s 50 day moving average is $118.11 and its 200 day moving average is $103.97. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 37.57 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.42 EPS for the quarter, topping the consensus estimate of $0.32 by $0.10. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. The firm had revenue of $223.29 million for the quarter, compared to analyst estimates of $213.00 million. Analysts anticipate that Commvault Systems, Inc. will post 1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Commvault Systems news, CEO Sanjay Mirchandani sold 15,975 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $110.20, for a total transaction of $1,760,445.00. Following the transaction, the chief executive officer now directly owns 539,465 shares of the company’s stock, valued at approximately $59,449,043. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Gary Merrill sold 6,040 shares of Commvault Systems stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $110.20, for a total value of $665,608.00. Following the sale, the chief financial officer now owns 128,207 shares of the company’s stock, valued at $14,128,411.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mirchandani sold 15,975 shares of Commvault Systems stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $110.20, for a total transaction of $1,760,445.00. Following the completion of the sale, the chief executive officer now directly owns 539,465 shares in the company, valued at approximately $59,449,043. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,816 shares of company stock valued at $6,613,874. Insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Several hedge funds and other institutional investors have recently made changes to their positions in CVLT. Ontario Teachers Pension Plan Board boosted its holdings in Commvault Systems by 23.4% during the first quarter. Ontario Teachers Pension Plan Board now owns 25,770 shares of the software maker’s stock worth $2,614,000 after buying an additional 4,888 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Commvault Systems in the 4th quarter worth approximately $3,298,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Commvault Systems in the 1st quarter valued at approximately $595,000. Los Angeles Capital Management LLC acquired a new position in Commvault Systems during the fourth quarter worth $1,110,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Commvault Systems during the fourth quarter worth $3,092,000. Hedge funds and other institutional investors 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.