Commvault Systems (NASDAQ:CVLT) Sets New 12-Month High – Still a Buy?

Commvault Systems, Inc. (NASDAQ:CVLT)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $158.47 and last traded at $156.82, with a volume of 65932 shares changing hands. The stock had previously closed at $152.69.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. DA Davidson increased their price target on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. KeyCorp raised their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Guggenheim reaffirmed a “buy” rating and issued a $122.00 price target on shares of Commvault Systems in a research note on Tuesday, June 25th. Royal Bank of Canada increased their price objective on shares of Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Commvault Systems Price Performance

The firm has a market cap of $6.97 billion, a P/E ratio of 42.35 and a beta of 0.60. The stock’s 50-day moving average price is $149.30 and its 200 day moving average price is $124.28.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.12. The company had revenue of $224.67 million during the quarter, compared to the consensus estimate of $215.54 million. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. As a group, analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Commvault Systems

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

Hedge Funds Weigh In On Commvault Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Champlain Investment Partners LLC increased its position in Commvault Systems by 58.5% during the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock worth $83,704,000 after buying an additional 304,459 shares during the period. Acadian Asset Management LLC raised its position in shares of Commvault Systems by 16.3% in the first quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after buying an additional 223,347 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Commvault Systems by 33.5% in the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock valued at $78,882,000 after buying an additional 162,722 shares during the period. Renaissance Technologies LLC grew its position in Commvault Systems by 7.5% during the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after buying an additional 126,800 shares in the last quarter. Finally, M&G Plc acquired a new position in Commvault Systems in the 2nd quarter valued at $10,265,000. 93.50% of the stock is currently 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.