Commvault Systems (NASDAQ:CVLT) Hits New 12-Month High - Should You Buy?

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $175.00 and last traded at $175.00, with a volume of 732 shares traded. The stock had previously closed at $169.79.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Commvault Systems from $107.00 to $123.00 and gave the company a "neutral" rating in a report on Monday, July 15th. DA Davidson lifted their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their target price on Commvault Systems from $164.00 to $182.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Guggenheim downgraded Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. Finally, KeyCorp boosted their price objective on Commvault Systems from $140.00 to $170.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $144.29.

Commvault Systems Price Performance

The business's fifty day moving average price is $149.48 and its 200-day moving average price is $129.74. The stock has a market capitalization of $7.10 billion, a PE ratio of 42.99 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The firm had revenue of $224.67 million during the quarter, compared to analyst estimates of $215.54 million. During the same period in the previous year, the business earned $0.29 EPS. The business's revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $153.89, for a total value of $189,592.48. Following the transaction, the director now owns 7,131 shares of the company's stock, valued at $1,097,389.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Allison Pickens sold 1,232 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following the completion of the transaction, the director now directly owns 7,131 shares in the company, valued at approximately $1,097,389.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Merrill sold 17,388 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the transaction, the insider now directly owns 94,530 shares in the company, valued at approximately $14,251,342.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Commvault Systems

Institutional investors have recently made changes to their positions in the business. Xponance Inc. increased its stake in Commvault Systems by 1.3% in the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker's stock worth $775,000 after purchasing an additional 79 shares during the period. EFG Asset Management North America Corp. increased its stake in shares of Commvault Systems by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker's stock worth $2,637,000 after buying an additional 103 shares during the period. Natixis Advisors LLC raised its holdings in Commvault Systems by 1.0% during the 2nd quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker's stock valued at $1,665,000 after buying an additional 138 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Commvault Systems by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker's stock valued at $328,000 after buying an additional 139 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Commvault Systems by 5.9% during the 2nd quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker's stock valued at $334,000 after buying an additional 153 shares during the period. Hedge funds and other 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.