Commvault Systems (NASDAQ:CVLT) Sets New 52-Week High – What’s Next?

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CVLT shares. William Blair upgraded shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a report on Thursday, January 30th. Cantor Fitzgerald lifted their price objective on shares of Commvault Systems from $159.00 to $173.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Oppenheimer began coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price objective for the company. StockNews.com lowered shares of Commvault Systems from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Royal Bank of Canada lifted their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $156.44.

Commvault Systems Trading Down 0.6 %

The firm’s 50-day moving average is $163.97 and its 200-day moving average is $158.89. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 48.53 and a beta of 0.65.

Insider Activity at Commvault Systems

In related news, Director Allison Pickens sold 1,232 shares of Commvault Systems 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 completion of the sale, the director now owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Commvault Systems

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Commvault Systems by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker’s stock worth $850,613,000 after acquiring an additional 54,562 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Commvault Systems by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker’s stock worth $288,115,000 after acquiring an additional 24,900 shares during the last quarter. Invesco Ltd. boosted its holdings in Commvault Systems by 57.7% during the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker’s stock worth $250,527,000 after acquiring an additional 607,643 shares during the last quarter. State Street Corp boosted its holdings in Commvault Systems by 1.6% during the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after acquiring an additional 25,082 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Commvault Systems by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker’s stock worth $194,681,000 after acquiring an additional 43,088 shares during the last quarter. 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.