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

Shares of Commvault Systems, Inc. (NASDAQ:CVLT) hit a new 52-week high during mid-day trading on Thursday . The company 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.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CVLT. Royal Bank of Canada upped their target price 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. KeyCorp upped their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Cantor Fitzgerald raised their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Finally, Oppenheimer started coverage on shares of Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $156.44.

Commvault Systems Stock Performance

The company has a 50-day moving average of $162.52 and a 200-day moving average of $157.20. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 48.18 and a beta of 0.65.

Insider Activity

In other Commvault Systems news, insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction that occurred 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 owns 93,007 shares of the company’s stock, valued at $15,335,924.23. This represents a 1.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred 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 trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,530 shares of company stock worth $2,244,755 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in shares of Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock worth $296,000 after purchasing an additional 66 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Commvault Systems by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock worth $213,000 after buying an additional 75 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Commvault Systems by 4.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker’s stock worth $368,000 after acquiring an additional 93 shares in the last quarter. Mariner LLC lifted its stake in Commvault Systems by 3.7% in the fourth quarter. Mariner LLC now owns 3,310 shares of the software maker’s stock valued at $500,000 after acquiring an additional 118 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Commvault Systems by 13.7% in the fourth quarter. GAMMA Investing LLC now owns 1,006 shares of the software maker’s stock valued at $152,000 after acquiring an additional 121 shares during the last quarter. 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.