Commvault Systems (NASDAQ:CVLT) Hits New 1-Year High – Still a Buy?

Commvault Systems, Inc. (NASDAQ:CVLT) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $178.72 and last traded at $177.79, with a volume of 133140 shares traded. The stock had previously closed at $175.60.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVLT. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Royal Bank of Canada lifted their target price on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. KeyCorp lifted their target price on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Oppenheimer initiated coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $151.25.

Commvault Systems Price Performance

The stock has a market cap of $7.51 billion, a P/E ratio of 43.45 and a beta of 0.59. The company has a fifty day moving average of $157.72 and a 200 day moving average of $139.43.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. As a group, analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Insider Activity

In related news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction of $189,592.48. Following the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at approximately $1,097,389.59. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the sale, the chief executive officer now owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,530 shares of company stock worth $2,221,827. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC raised its position in Commvault Systems by 504.6% during the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock valued at $1,582,000 after acquiring an additional 10,863 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Commvault Systems during the 2nd quarter worth $2,221,000. Charles Schwab Investment Management Inc. increased its stake in shares of Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after purchasing an additional 120,779 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in shares of Commvault Systems during the 2nd quarter worth $495,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of Commvault Systems during the 3rd quarter worth $1,126,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.