Commvault Systems (NASDAQ:CVLT) Sets New 52-Week High – Still a Buy?

Commvault Systems, Inc. (NASDAQ:CVLT)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $171.50 and last traded at $171.50, with a volume of 5954 shares changing hands. The stock had previously closed at $159.41.

Wall Street Analyst Weigh In

CVLT has been the subject of a number of research analyst reports. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. DA Davidson upped their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler increased their target price on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Commvault Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.29.

Commvault Systems Stock Performance

The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 40.36 and a beta of 0.59. The company has a fifty day simple moving average of $150.20 and a two-hundred day simple moving average of $131.97.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $233.28 million for the quarter, compared to the consensus estimate 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 for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. As a group, analysts expect that Commvault Systems, Inc. will post 1.68 EPS for the current year.

Insider Transactions at Commvault Systems

In other news, insider Gary Merrill sold 17,388 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the transaction, the insider now directly owns 94,530 shares of the company’s stock, valued at $14,251,342.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now owns 7,131 shares in the company, valued at approximately $1,097,389.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Xponance Inc. grew its holdings in Commvault Systems by 1.3% during the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock worth $775,000 after acquiring an additional 79 shares in the last quarter. EFG Asset Management North America Corp. grew its stake in Commvault Systems by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock worth $2,637,000 after purchasing an additional 103 shares in the last quarter. Natixis Advisors LLC increased its holdings in Commvault Systems by 1.0% in the second quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after buying an additional 138 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Commvault Systems by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after buying an additional 139 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Commvault Systems by 5.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after buying an additional 153 shares during the last quarter. Institutional investors 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.