Commvault Systems (NASDAQ:CVLT) Reaches New 12-Month High – Here’s Why

Commvault Systems, Inc. (NASDAQ:CVLT)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $190.11 and last traded at $187.90, with a volume of 531498 shares. The stock had previously closed at $184.91.

Analysts Set New Price Targets

CVLT has been the topic of a number of analyst reports. StockNews.com downgraded shares of Commvault Systems from a “buy” rating to a “hold” rating in a research note on Monday. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, January 29th. Oppenheimer initiated coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. Royal Bank of Canada increased their price objective 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. Finally, Cantor Fitzgerald increased their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $156.44.

Commvault Systems Trading Down 0.6 %

The business’s 50 day moving average price is $163.97 and its two-hundred day moving average price is $158.89. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 48.53 and a beta of 0.65.

Insider Buying and Selling

In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Commvault Systems

Several hedge funds have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. boosted its position in Commvault Systems by 3.3% during the 4th quarter. Benjamin Edwards Inc. now owns 1,803 shares of the software maker’s stock worth $272,000 after buying an additional 58 shares during the period. Hancock Whitney Corp raised its holdings in Commvault Systems by 1.0% during the 4th quarter. Hancock Whitney Corp now owns 5,781 shares of the software maker’s stock worth $872,000 after purchasing an additional 60 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Commvault Systems by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker’s stock worth $296,000 after purchasing an additional 66 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Commvault Systems by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 1,413 shares of the software maker’s stock worth $213,000 after purchasing an additional 75 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Commvault Systems by 4.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,439 shares of the software maker’s stock worth $368,000 after purchasing an additional 93 shares during the last quarter. 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.