Commvault Systems (NASDAQ:CVLT) Sets New 12-Month High at $101.41

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

Analyst Upgrades and Downgrades

CVLT has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price target on shares of Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. KeyCorp raised shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price target for the company in a research report on Wednesday, January 31st. Two investment 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.60.

Commvault Systems Stock Performance

The business’s 50 day simple moving average is $93.39 and its two-hundred day simple moving average is $79.34.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The business had revenue of $216.81 million during the quarter, compared to analyst estimates of $208.01 million. During the same period last year, the business earned $0.17 EPS. Commvault Systems’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Commvault Systems, Inc. will post 1.35 earnings per share for the current year.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Commvault Systems news, CEO Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the transaction, the chief executive officer now owns 399,356 shares of the company’s stock, valued at $39,065,003.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the transaction, the director now directly owns 7,206 shares in the company, valued at approximately $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 three months. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Commvault Systems

Hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of Commvault Systems in the first quarter worth $26,000. Captrust Financial Advisors lifted its holdings in shares of Commvault Systems by 64.0% in the second quarter. Captrust Financial Advisors now owns 510 shares of the software maker’s stock worth $32,000 after buying an additional 199 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Commvault Systems in the fourth quarter worth $33,000. Quantbot Technologies LP purchased a new position in shares of Commvault Systems in the second quarter worth $64,000. Finally, Headlands Technologies LLC purchased a new position in shares of Commvault Systems in the fourth quarter worth $67,000. 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.