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

Commvault Systems, Inc. (NASDAQ:CVLT) hit a new 52-week high on Thursday . The stock traded as high as $181.74 and last traded at $181.59, with a volume of 102285 shares traded. The stock had previously closed at $178.55.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVLT. Royal Bank of Canada upped their target price on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. KeyCorp upped their target price on Commvault Systems from $192.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Finally, Oppenheimer initiated coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.44.

Commvault Systems Stock Up 0.7 %

The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 48.53 and a beta of 0.65. The company has a 50 day simple moving average of $162.74 and a 200-day simple moving average of $157.38.

Insider Activity

In related news, CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the transaction, the chief executive officer now directly owns 459,969 shares of the company’s stock, valued at $76,032,875.70. This represents a 2.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now directly owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commvault Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVLT. Creative Planning lifted its position in shares of Commvault Systems by 66.0% during the 3rd quarter. Creative Planning now owns 12,150 shares of the software maker’s stock valued at $1,869,000 after acquiring an additional 4,829 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Commvault Systems during the 3rd quarter valued at $1,126,000. Ellsworth Advisors LLC lifted its position in shares of Commvault Systems by 4.4% during the 3rd quarter. Ellsworth Advisors LLC now owns 4,252 shares of the software maker’s stock valued at $654,000 after acquiring an additional 181 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in shares of Commvault Systems during the 3rd quarter valued at $328,000. Finally, Raymond James & Associates lifted its position in shares of Commvault Systems by 58.1% during the 3rd quarter. Raymond James & Associates now owns 15,410 shares of the software maker’s stock valued at $2,371,000 after acquiring an additional 5,661 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

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.