Commvault Systems Target of Unusually Large Options Trading (NASDAQ:CVLT)
Commvault Systems, Inc. (NASDAQ:CVLT) was the target of unusually large options trading activity on Wednesday. Traders purchased 1,063 call options on the stock. This represents an increase of 1,419% compared to the typical daily volume of 70 call options.
In other news, CFO Brian Carolan sold 7,305 shares of the firm’s stock in a transaction dated Wednesday, January 20th. The stock was sold at an average price of $59.90, for a total transaction of $437,569.50. Following the transaction, the chief financial officer now directly owns 157,262 shares of the company’s stock, valued at $9,419,993.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 5,000 shares of Commvault Systems stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $60.50, for a total value of $302,500.00. Following the completion of the transaction, the chief executive officer now directly owns 286,556 shares in the company, valued at $17,336,638. The disclosure for this sale can be found here. Insiders sold a total of 30,745 shares of company stock worth $1,931,963 over the last quarter. Corporate insiders own 1.01% of the company’s stock.
Several institutional investors have recently modified their holdings of CVLT. Centaurus Financial Inc. acquired a new position in Commvault Systems in the fourth quarter valued at approximately $113,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Commvault Systems by 360.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,613 shares of the software maker’s stock valued at $145,000 after purchasing an additional 2,045 shares in the last quarter. Group One Trading L.P. purchased a new stake in Commvault Systems during the 4th quarter worth approximately $170,000. Nisa Investment Advisors LLC raised its stake in Commvault Systems by 12.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,589 shares of the software maker’s stock valued at $199,000 after purchasing an additional 400 shares during the last quarter. Finally, Truist Financial Corp acquired a new stake in shares of Commvault Systems in the fourth quarter valued at about $204,000. 91.39% of the stock is owned by hedge funds and other institutional investors.
Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, January 26th. The software maker reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.10. Commvault Systems had a negative net margin of 4.47% and a positive return on equity of 4.52%. The company had revenue of $188.00 million during the quarter, compared to the consensus estimate of $175.57 million. During the same period last year, the firm earned $0.47 earnings per share. Commvault Systems’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts predict that Commvault Systems will post 0.7 EPS for the current fiscal year.
A number of equities analysts recently issued reports on CVLT shares. Lake Street Capital increased their price target on shares of Commvault Systems from $54.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, January 28th. Piper Sandler lifted their target price on shares of Commvault Systems from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. KeyCorp upped their price target on Commvault Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. Wells Fargo & Company raised their target price on shares of Commvault Systems from $55.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. Finally, TheStreet upgraded Commvault Systems from a “d+” rating to a “c-” rating in a research note on Wednesday, December 16th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $65.38.
About Commvault Systems
Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. It offers Commvault Complete Backup & Recovery, a backup and recovery solution for enterprises; and Commvault HyperScale Technology, an add-on for Commvault Complete that delivers an on-premises, cloud-like infrastructure to support scale-out secondary storage.
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