Commvault Systems (NASDAQ:CVLT) Sets New 12-Month High - What's Next?

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $191.76 and last traded at $191.24, with a volume of 234541 shares trading hands. The stock had previously closed at $188.57.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. DA Davidson lifted their price target on Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. KeyCorp reduced their price objective on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Piper Sandler dropped their target price on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Oppenheimer upped their target price on Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Commvault Systems has an average rating of "Moderate Buy" and an average target price of $175.25.

Commvault Systems Price Performance

The company has a 50-day moving average price of $168.93 and a two-hundred day moving average price of $166.11. The company has a market cap of $8.21 billion, a PE ratio of 48.84 and a beta of 0.75.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.10. The company had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The company's revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, equities research analysts anticipate that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

Insider Activity at Commvault Systems

In other Commvault Systems news, Director Nicola Adamo sold 1,500 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $169.74, for a total transaction of $254,610.00. Following the transaction, the director now owns 16,178 shares of the company's stock, valued at $2,746,053.72. This trade represents a 8.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the transaction, the chief executive officer now directly owns 469,648 shares in the company, valued at approximately $82,188,400. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,957 shares of company stock valued at $859,428. Insiders own 1.00% of the company's stock.

Institutional Trading of Commvault Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nuveen LLC acquired a new stake in Commvault Systems in the 1st quarter valued at approximately $116,223,000. Invesco Ltd. increased its position in shares of Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock valued at $250,527,000 after purchasing an additional 607,643 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Commvault Systems by 604.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock worth $98,479,000 after acquiring an additional 555,656 shares in the last quarter. Norges Bank bought a new stake in shares of Commvault Systems during the 4th quarter worth $79,619,000. Finally, Wedge Capital Management L L P NC boosted its stake in shares of Commvault Systems by 1,936.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker's stock worth $56,850,000 after acquiring an additional 342,656 shares in the last quarter. 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.