Commvault Systems (NASDAQ:CVLT) Hits New 12-Month High – Time to Buy?

Commvault Systems, Inc. (NASDAQ:CVLT)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $175.00 and last traded at $175.00, with a volume of 732 shares. The stock had previously closed at $169.79.

Analyst Ratings Changes

CVLT has been the topic of several recent analyst reports. StockNews.com upgraded shares of Commvault Systems from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 24th. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. DA Davidson boosted their target price on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their target price on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Finally, Piper Sandler upped their price objective on shares of Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Commvault Systems Price Performance

The firm has a 50-day moving average price of $149.48 and a 200 day moving average price of $129.74. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 45.16 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT) last released its quarterly 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 net margin of 20.19% and a return on equity of 32.16%. The business had revenue of $224.67 million for the quarter, compared to the consensus estimate of $215.54 million. During the same period in the prior year, the company posted $0.29 earnings per share. Commvault Systems’s revenue was up 13.4% compared to the same quarter last year. On average, equities analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88. Following the transaction, the insider now owns 94,530 shares in the company, valued at $14,251,342.80. 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 hyperlink. In other news, insider Gary Merrill sold 17,388 shares of the stock in a transaction 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 sale, the insider now directly owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated 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. 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 Investors Weigh In On Commvault Systems

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Commvault Systems by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock valued at $561,081,000 after buying an additional 43,333 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Commvault Systems by 7.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after purchasing an additional 126,800 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Commvault Systems by 0.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock valued at $194,606,000 after purchasing an additional 4,422 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Commvault Systems by 58.5% in the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock valued at $83,704,000 after purchasing an additional 304,459 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Commvault Systems by 33.5% in the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after purchasing an additional 162,722 shares in the last quarter. 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.