Commvault Systems (NASDAQ:CVLT) Reaches New 12-Month High – Still a Buy?

Commvault Systems, Inc. (NASDAQ:CVLT)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $174.98 and last traded at $173.38, with a volume of 22635 shares changing hands. The stock had previously closed at $173.11.

Wall Street Analysts Forecast Growth

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

Commvault Systems Price Performance

The company has a market capitalization of $7.72 billion, a P/E ratio of 44.70 and a beta of 0.59. The company’s 50-day moving average price is $152.65 and its two-hundred day moving average price is $134.89.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share 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 analyst estimates of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Allison Pickens sold 1,232 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now directly owns 7,131 shares of the company’s stock, valued at $1,097,389.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Commvault Systems

A number of large investors have recently bought and sold shares of the company. National Wealth Management Group LLC acquired a new stake in Commvault Systems during the third quarter worth about $376,000. Townsquare Capital LLC boosted its stake in shares of Commvault Systems by 95.0% in the 3rd quarter. Townsquare Capital LLC now owns 37,765 shares of the software maker’s stock valued at $5,810,000 after purchasing an additional 18,402 shares in the last quarter. FMR LLC boosted its stake in shares of Commvault Systems by 26.1% in the 3rd quarter. FMR LLC now owns 466,315 shares of the software maker’s stock valued at $71,743,000 after purchasing an additional 96,525 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Commvault Systems by 122.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 10,400 shares of the software maker’s stock valued at $1,599,000 after purchasing an additional 5,730 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Commvault Systems in the 3rd quarter valued at approximately $1,591,000. 93.50% of the stock is currently 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.