Commvault Systems (NASDAQ:CVLT) Sees Unusually-High Trading Volume – What’s Next?

Commvault Systems, Inc. (NASDAQ:CVLT) shares saw unusually-high trading volume on Tuesday . Approximately 320,490 shares changed hands during mid-day trading, a decline of 8% from the previous session’s volume of 350,030 shares.The stock last traded at $140.81 and had previously closed at $158.30.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVLT. StockNews.com lowered Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. Oppenheimer started coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective on the stock. Cantor Fitzgerald increased their target price on Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday. Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research report on Wednesday. Finally, William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.44.

Commvault Systems Stock Performance

The company has a market capitalization of $6.42 billion, a PE ratio of 37.17 and a beta of 0.65. The stock’s 50-day simple moving average is $163.11 and its 200 day simple moving average is $153.93.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. Commvault Systems’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. On average, analysts expect that Commvault Systems, Inc. will post 1.65 earnings per share for the current year.

Insider Activity

In other Commvault Systems news, Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 5,899 shares in the company, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $15,335,924.23. This trade represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Commvault Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its stake in 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 during the period. Summit Partners Public Asset Management LLC purchased a new position in shares of Commvault Systems during the third quarter worth about $67,722,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after buying an additional 120,779 shares during the last quarter. Congress Asset Management Co. raised its stake in Commvault Systems by 29.4% during the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock valued at $75,719,000 after acquiring an additional 111,715 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Commvault Systems during the 3rd quarter worth approximately $15,264,000. 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.