Commvault Systems (NASDAQ:CVLT) Hits New 12-Month High – What’s Next?

Commvault Systems, Inc. (NASDAQ:CVLT)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $181.74 and last traded at $181.59, with a volume of 102285 shares changing hands. The stock had previously closed at $178.55.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. KeyCorp raised their price target on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 30th. Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target on the stock. Finally, Cantor Fitzgerald lifted their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Commvault Systems currently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

Commvault Systems Price Performance

The firm has a market cap of $8.08 billion, a P/E ratio of 48.18 and a beta of 0.65. The company’s 50 day moving average is $162.52 and its two-hundred day moving average is $157.20.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of Commvault Systems stock in a transaction on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the completion of the transaction, the insider now directly owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the completion of the sale, the director now owns 5,899 shares in the company, valued at $1,017,577.50. This represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,530 shares of company stock valued at $2,244,755 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CVLT. Mariner LLC lifted its position in Commvault Systems by 3.7% during the 4th quarter. Mariner LLC now owns 3,310 shares of the software maker’s stock worth $500,000 after buying an additional 118 shares in the last quarter. Barclays PLC raised its stake in shares of Commvault Systems by 25.5% in the fourth quarter. Barclays PLC now owns 108,484 shares of the software maker’s stock worth $16,373,000 after acquiring an additional 22,049 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Commvault Systems by 14.4% during the fourth quarter. Townsquare Capital LLC now owns 43,185 shares of the software maker’s stock worth $6,517,000 after purchasing an additional 5,420 shares in the last quarter. Capital Fund Management S.A. bought a new stake in shares of Commvault Systems during the fourth quarter valued at approximately $1,709,000. Finally, CenterBook Partners LP increased its holdings in shares of Commvault Systems by 18.5% in the fourth quarter. CenterBook Partners LP now owns 11,282 shares of the software maker’s stock valued at $1,703,000 after purchasing an additional 1,764 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

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.