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

Commvault Systems, Inc. (NASDAQ:CVLT) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $178.72 and last traded at $177.79, with a volume of 133140 shares. The stock had previously closed at $175.60.

Analyst Ratings Changes

CVLT has been the topic of a number of research analyst reports. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Guggenheim downgraded shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. KeyCorp lifted their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. DA Davidson lifted their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Oppenheimer initiated coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Commvault Systems has an average rating of “Moderate Buy” and an average target price of $151.25.

Commvault Systems Stock Performance

The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 43.45 and a beta of 0.59. The firm’s 50-day simple moving average is $157.72 and its two-hundred day simple moving average is $139.43.

Commvault Systems (NASDAQ:CVLT) last issued 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. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The company had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. During the same quarter in the previous year, the company earned $0.30 EPS. Commvault Systems’s revenue was up 16.1% on a year-over-year basis. Equities research analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Insider Transactions at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $153.89, for a total transaction 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 trade represents a 14.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the transaction, the chief executive officer now directly owns 459,969 shares in the company, valued at $76,032,875.70. The trade was a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,530 shares of company stock worth $2,221,827 in the last quarter. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI bought a new position in Commvault Systems in the second quarter valued at approximately $30,000. Capital Performance Advisors LLP bought a new position in Commvault Systems in the third quarter valued at approximately $33,000. Hexagon Capital Partners LLC lifted its stake in Commvault Systems by 124.8% in the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock valued at $43,000 after buying an additional 196 shares in the last quarter. Signaturefd LLC boosted its holdings in Commvault Systems by 70.8% during the second quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after purchasing an additional 170 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in Commvault Systems in the second quarter valued at $56,000. Institutional investors own 93.50% of the company’s stock.

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.