Commvault Systems (NASDAQ:CVLT) Shares Cross Above 200-Day Moving Average of $81.64

Commvault Systems, Inc. (NASDAQ:CVLT)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $81.64 and traded as high as $97.49. Commvault Systems shares last traded at $96.49, with a volume of 286,690 shares changing hands.

Wall Street Analysts Forecast Growth

CVLT has been the subject of a number of research analyst reports. KeyCorp upgraded Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price objective for the company in a research report on Wednesday, January 31st. Royal Bank of Canada lifted their price target on Commvault Systems from $86.00 to $97.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Commvault Systems currently has a consensus rating of “Moderate Buy” and an average target price of $85.60.

Commvault Systems Price Performance

The company has a market cap of $4.22 billion, a PE ratio of -3,215.26 and a beta of 0.62. The company has a 50-day moving average of $97.00 and a 200 day moving average of $81.64.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. Commvault Systems had a positive return on equity of 32.27% and a negative net margin of 0.09%. The company had revenue of $216.81 million during the quarter, compared to analyst estimates of $208.01 million. During the same quarter last year, the business posted $0.17 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Equities research analysts expect that Commvault Systems, Inc. will post 1.35 EPS for the current year.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, Director Allison Pickens sold 990 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $94.73, for a total transaction of $93,782.70. Following the completion of the transaction, the director now owns 7,206 shares in the company, valued at $682,624.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Commvault Systems news, CFO Gary Merrill sold 822 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $97.25, for a total transaction of $79,939.50. Following the completion of the transaction, the chief financial officer now owns 87,945 shares in the company, valued at $8,552,651.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allison Pickens sold 990 shares of Commvault Systems stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total transaction of $93,782.70. Following the sale, the director now directly owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The disclosure for this sale can be found here. Insiders sold 23,306 shares of company stock worth $2,276,265 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Commvault Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Commvault Systems by 8.6% during the second quarter. BlackRock Inc. now owns 6,019,103 shares of the software maker’s stock valued at $437,107,000 after acquiring an additional 478,120 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Commvault Systems by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,488,370 shares of the software maker’s stock valued at $438,246,000 after acquiring an additional 61,556 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Commvault Systems by 0.3% during the third quarter. Mackenzie Financial Corp now owns 1,917,009 shares of the software maker’s stock valued at $128,593,000 after acquiring an additional 6,130 shares in the last quarter. State Street Corp raised its stake in shares of Commvault Systems by 2.8% during the second quarter. State Street Corp now owns 1,577,393 shares of the software maker’s stock valued at $114,550,000 after acquiring an additional 42,809 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Commvault Systems by 26.9% during the third quarter. Morgan Stanley now owns 1,296,825 shares of the software maker’s stock valued at $87,678,000 after acquiring an additional 274,966 shares in the last quarter. 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.