Traders Purchase Large Volume of Commvault Systems Put Options (NASDAQ:CVLT)

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report) saw unusually large options trading on Tuesday. Stock traders acquired 10,038 put options on the company. This is an increase of approximately 1,383% compared to the average daily volume of 677 put options.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded up $1.36 during midday trading on Friday, reaching $159.26. 553,018 shares of the company's stock were exchanged, compared to its average volume of 506,698. The firm's 50 day simple moving average is $163.11 and its two-hundred day simple moving average is $153.93. Commvault Systems has a fifty-two week low of $88.34 and a fifty-two week high of $178.72. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 41.80 and a beta of 0.65.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. The company's quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the business posted $0.30 earnings per share. Equities research analysts predict that Commvault Systems will post 1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the sale, the director now owns 5,899 shares in the company, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Merrill sold 1,523 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the transaction, the insider now owns 93,007 shares of the company's stock, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Commvault Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Commvault Systems by 604.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock valued at $98,479,000 after purchasing an additional 555,656 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new position in Commvault Systems in the 3rd quarter valued at approximately $67,722,000. Charles Schwab Investment Management Inc. grew its stake in shares of Commvault Systems by 25.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker's stock worth $90,278,000 after acquiring an additional 120,779 shares in the last quarter. Congress Asset Management Co. increased its position in shares of Commvault Systems by 29.4% during the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker's stock worth $75,719,000 after acquiring an additional 111,715 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in Commvault Systems during the 3rd quarter worth about $15,264,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CVLT. Royal Bank of Canada lifted their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 30th. William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research note on Thursday. KeyCorp upped their price target on Commvault Systems from $192.00 to $195.00 and gave the company an "overweight" rating in a research report on Wednesday. Guggenheim reiterated a "neutral" rating on shares of Commvault Systems in a research report on Wednesday. Finally, Cantor Fitzgerald upped their target price on Commvault Systems from $159.00 to $173.00 and gave the company a "neutral" rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $156.44.

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.