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

Commvault Systems, Inc. (NASDAQ:CVLT) shares hit a new 52-week high on Monday . The company traded as high as $165.50 and last traded at $164.34, with a volume of 25609 shares. The stock had previously closed at $162.70.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank of Canada raised their target price on shares of Commvault Systems from $121.00 to $152.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Piper Sandler lifted their price objective on Commvault Systems from $107.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, KeyCorp upped their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Commvault Systems Stock Down 9.8 %

The stock has a market capitalization of $6.47 billion, a P/E ratio of 39.32 and a beta of 0.60. The business has a fifty day moving average price of $151.10 and a 200-day moving average price of $126.75.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, July 30th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.12. Commvault Systems had a net margin of 20.19% and a return on equity of 32.16%. The business had revenue of $224.67 million for the quarter, compared to analysts’ expectations of $215.54 million. During the same quarter in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Commvault Systems

In related news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction that occurred on 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 owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the business’s 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 sale, the director now owns 7,131 shares in the company, valued at $1,097,389.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Merrill sold 17,388 shares of the company’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 value of $2,621,414.88. Following the sale, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. National Bank of Canada FI purchased a new position in shares of Commvault Systems during the second quarter worth approximately $30,000. Hexagon Capital Partners LLC grew its position in Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after purchasing an additional 196 shares during the last quarter. Signaturefd LLC increased its position in shares of Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after acquiring an additional 170 shares during the period. GAMMA Investing LLC increased its holdings in shares of Commvault Systems by 140.5% in the second quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after purchasing an additional 309 shares during the period. Finally, DT Investment Partners LLC purchased a new position in shares of Commvault Systems during the second quarter worth $69,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.