Commvault Systems (NASDAQ:CVLT) Sets New 12-Month High at $107.46

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $107.46 and last traded at $106.49, with a volume of 91006 shares traded. The stock had previously closed at $99.43.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVLT. KeyCorp upgraded shares of Commvault Systems from a "sector weight" rating to an "overweight" rating and set a $109.00 price target on the stock in a research note on Wednesday, January 31st. Royal Bank of Canada upped their price target on shares of Commvault Systems from $86.00 to $97.00 and gave the stock a "sector perform" rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $85.60.

Commvault Systems Trading Up 3.1 %

The firm has a market cap of $4.49 billion, a P/E ratio of -3,414.53 and a beta of 0.62. The company's 50 day simple moving average is $97.79 and its 200-day simple moving average is $84.45.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $216.81 million for the quarter, compared to analysts' expectations of $208.01 million. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. On average, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 21,494 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the sale, the chief executive officer now owns 399,356 shares of the company's stock, valued at approximately $39,065,003.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sanjay Mirchandani sold 21,494 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.82, for a total transaction of $2,102,543.08. Following the completion of the sale, the chief executive officer now owns 399,356 shares of the company's stock, valued at approximately $39,065,003.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allison Pickens sold 990 shares of the company's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now directly owns 7,206 shares of the company's stock, valued at approximately $682,624.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,306 shares of company stock worth $2,276,265. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Commvault Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Commvault Systems by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,488,370 shares of the software maker's stock worth $438,246,000 after acquiring an additional 61,556 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Commvault Systems by 0.3% in the 3rd quarter. Mackenzie Financial Corp now owns 1,917,009 shares of the software maker's stock worth $128,593,000 after acquiring an additional 6,130 shares in the last quarter. Invesco Ltd. increased its holdings in Commvault Systems by 50.9% in the 3rd quarter. Invesco Ltd. now owns 629,282 shares of the software maker's stock worth $42,546,000 after acquiring an additional 212,325 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Commvault Systems by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,291 shares of the software maker's stock worth $37,712,000 after acquiring an additional 12,624 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Commvault Systems by 14.9% in the 3rd quarter. AQR Capital Management LLC now owns 345,628 shares of the software maker's stock worth $23,368,000 after acquiring an additional 44,816 shares in the last quarter. Hedge funds and other 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.