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

Commvault Systems, Inc. (NASDAQ:CVLT)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CVLT shares. KeyCorp raised shares of Commvault Systems from a “sector weight” rating to an “overweight” rating and set a $109.00 price target for the company in a research note on Wednesday, January 31st. Royal Bank of Canada increased their price target on shares of Commvault Systems from $86.00 to $97.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.60.

Commvault Systems Stock Performance

The stock has a market cap of $4.22 billion, a PE ratio of -3,215.26 and a beta of 0.62. The stock’s 50-day moving average is $97.00 and its two-hundred day moving average is $81.64.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $216.81 million during the quarter, compared to analysts’ expectations of $208.01 million. Commvault Systems had a negative net margin of 0.09% and a positive return on equity of 32.27%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. Analysts forecast 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 firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the transaction, the director now owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Commvault Systems news, Director Allison Pickens sold 990 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $94.73, for a total value of $93,782.70. Following the completion of the transaction, the director now owns 7,206 shares of the company’s stock, valued at approximately $682,624.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gary Merrill sold 822 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were 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 directly owns 87,945 shares of the company’s stock, valued at approximately $8,552,651.25. The disclosure for this sale can be found here. Insiders sold 23,306 shares of company stock valued at $2,276,265 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Commvault Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVLT. Raymond James & Associates raised its holdings in shares of Commvault Systems by 25.7% in the 1st quarter. Raymond James & Associates now owns 26,393 shares of the software maker’s stock valued at $1,751,000 after purchasing an additional 5,402 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Commvault Systems by 36.1% in the 1st quarter. American Century Companies Inc. now owns 23,076 shares of the software maker’s stock valued at $1,531,000 after purchasing an additional 6,118 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Commvault Systems by 34.1% in the 1st quarter. MetLife Investment Management LLC now owns 50,861 shares of the software maker’s stock valued at $3,375,000 after purchasing an additional 12,933 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Commvault Systems by 1.9% in the 1st quarter. Rhumbline Advisers now owns 126,222 shares of the software maker’s stock valued at $8,375,000 after purchasing an additional 2,363 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Commvault Systems by 8.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,331 shares of the software maker’s stock valued at $1,084,000 after purchasing an additional 1,243 shares in the last quarter. Hedge funds and other 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.