Commvault Systems (NASDAQ:CVLT) Reaches New 52-Week High - What's Next?

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $181.74 and last traded at $181.59, with a volume of 102285 shares. The stock had previously closed at $178.55.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Guggenheim restated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, January 29th. Cantor Fitzgerald boosted their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 target price for the company. Royal Bank of Canada lifted their price target on Commvault Systems from $164.00 to $182.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 30th. Finally, William Blair raised Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday, January 30th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $156.44.

Commvault Systems Stock Performance

The firm has a fifty day moving average price of $163.18 and a two-hundred day moving average price of $158.15. The stock has a market capitalization of $8.14 billion, a P/E ratio of 48.53 and a beta of 0.65.

Insider Activity

In related news, Director Allison Pickens sold 1,232 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now directly owns 5,899 shares of the company's stock, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Commvault Systems

Institutional investors have recently bought and sold shares of the stock. Quarry LP raised its holdings in Commvault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after purchasing an additional 151 shares during the period. Capital Performance Advisors LLP bought a new position in Commvault Systems in the 3rd quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. increased its stake in Commvault Systems by 409.0% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 341 shares of the software maker's stock worth $51,000 after buying an additional 274 shares in the last quarter. TFC Financial Management Inc. increased its stake in Commvault Systems by 294.1% in the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker's stock worth $61,000 after buying an additional 300 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Commvault Systems in the 3rd quarter worth $71,000. 93.50% of the stock is owned by institutional investors.

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.