Commvault Systems (NASDAQ:CVLT) Shares Pass Above Two Hundred Day Moving Average of $81.64

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $81.64 and traded as high as $97.49. Commvault Systems shares last traded at $96.49, with a volume of 286,690 shares changing hands.

Analyst Upgrades and Downgrades

CVLT has been the topic of a number of recent analyst reports. 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. KeyCorp upgraded shares of Commvault Systems from a "sector weight" rating to an "overweight" rating and set a $109.00 target price on the stock in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Commvault Systems presently has an average rating of "Moderate Buy" and a consensus target price of $85.60.

Commvault Systems Stock Performance

The firm has a market capitalization of $4.22 billion, a PE ratio of -3,215.26 and a beta of 0.62. The firm's 50-day moving average is $97.03 and its 200 day moving average is $81.83.

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

Insider Activity

In related news, CFO Gary Merrill sold 822 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $97.25, for a total value of $79,939.50. Following the transaction, the chief financial officer now directly owns 87,945 shares of the company's stock, valued at approximately $8,552,651.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Commvault Systems news, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the transaction, the director now directly owns 7,206 shares of the company's stock, valued at $682,624.38. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Gary Merrill sold 822 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $97.25, for a total transaction of $79,939.50. Following the completion of the sale, the chief financial officer now directly owns 87,945 shares of the company's stock, valued at approximately $8,552,651.25. The disclosure for this sale can be found here. Insiders sold 23,306 shares of company stock valued at $2,276,265 in the last ninety days. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Commvault Systems

Several hedge funds and other institutional investors have recently bought and sold shares of CVLT. Quarry LP acquired a new position in Commvault Systems in the 1st quarter worth $26,000. Captrust Financial Advisors lifted its stake in shares of Commvault Systems by 64.0% in the second quarter. Captrust Financial Advisors now owns 510 shares of the software maker's stock worth $32,000 after acquiring an additional 199 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Commvault Systems in the fourth quarter valued at about $33,000. Quantbot Technologies LP acquired a new stake in Commvault Systems during the 2nd quarter valued at approximately $64,000. Finally, Headlands Technologies LLC purchased a new stake in Commvault Systems during the 4th quarter worth approximately $67,000. 93.50% of the stock is owned by institutional investors and hedge funds.

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.