Sanjay Mirchandani Sells 8,457 Shares of CommVault Systems (NASDAQ:CVLT) Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 8,457 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $104.54, for a total transaction of $884,094.78. Following the sale, the chief executive officer directly owned 334,773 shares of the company’s stock, valued at approximately $34,997,169.42. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sanjay Mirchandani also recently made the following trade(s):

• On Tuesday, March 17th, Sanjay Mirchandani sold 10,052 shares of CommVault Systems stock. The stock was sold at an average price of $80.09, for a total transaction of $805,064.68.
• On Monday, March 16th, Sanjay Mirchandani sold 10,338 shares of CommVault Systems stock. The stock was sold at an average price of $78.96, for a total transaction of $816,288.48.
• On Wednesday, February 18th, Sanjay Mirchandani sold 6,480 shares of CommVault Systems stock. The shares were sold at an average price of $90.28, for a total value of $585,014.40.

CommVault Systems Price Performance

Shares of NASDAQ:CVLT opened at $104.54 on Thursday. The company has a market capitalization of $4.31 billion, a PE ratio of 65.75 and a beta of 0.77. The company has a debt-to-equity ratio of 117.54, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a fifty day moving average of $89.39 and a 200-day moving average of $104.46. CommVault Systems, Inc. has a one year low of $71.75 and a one year high of $200.68.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The business had revenue of $311.69 million for the quarter, compared to analysts’ expectations of $306.71 million. During the same period in the previous year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities analysts anticipate that CommVault Systems, Inc. will post 2.86 EPS for the current fiscal year.

Key CommVault Systems News

Here are the key news stories impacting CommVault Systems this week:

• Negative Sentiment: Several law firms, including Rosen, Faruqi & Faruqi, Bernstein Liebhard, Levi & Korsinsky, and others, issued class-action alerts and deadline reminders for CVLT investors, increasing legal risk, uncertainty, and potential settlement costs. Article Title
• Negative Sentiment: A lawsuit filing specifically alleges securities fraud after ARR growth issues and says Commvault’s stock had already fallen sharply when those concerns surfaced, which can keep investors focused on disclosure and execution risk. Article Title
• Neutral Sentiment: Commvault executives disclosed sales of company stock, but the company said the transactions were made under pre-arranged 10b5-1 plans and to cover tax withholding on vested equity awards, which makes the signal less concerning than open-market discretionary selling. Article Title
• Positive Sentiment: The company’s most recent earnings report was stronger than expected, with EPS and revenue both beating estimates and revenue rising 13.3% year over year, which still supports the longer-term fundamental case for CVLT. Article Title

Analyst Ratings Changes

Several research analysts have commented on the stock. Truist Financial reiterated a “buy” rating and issued a $155.00 target price (down from $175.00) on shares of CommVault Systems in a report on Wednesday, January 28th. Stephens cut their price target on shares of CommVault Systems from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Wall Street Zen downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Jefferies Financial Group initiated coverage on shares of CommVault Systems in a research note on Monday, April 27th. They issued a “hold” rating and a $105.00 price objective for the company. Finally, Robert W. Baird lowered their price objective on shares of CommVault Systems from $185.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.00.

Institutional Investors Weigh In On CommVault Systems

A number of institutional investors have recently modified their holdings of CVLT. Boston Trust Walden Corp purchased a new stake in shares of CommVault Systems during the 4th quarter worth about $30,830,000. Federated Hermes Inc. grew its stake in shares of CommVault Systems by 9.7% in the 3rd quarter. Federated Hermes Inc. now owns 322,053 shares of the software maker’s stock valued at $60,797,000 after buying an additional 28,596 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of CommVault Systems by 131.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 382,778 shares of the software maker’s stock valued at $72,261,000 after buying an additional 217,557 shares in the last quarter. Emerald Advisers LLC raised its position in CommVault Systems by 47.4% during the third quarter. Emerald Advisers LLC now owns 156,894 shares of the software maker’s stock valued at $29,618,000 after acquiring an additional 50,470 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in CommVault Systems by 19.4% during the third quarter. Victory Capital Management Inc. now owns 118,284 shares of the software maker’s stock valued at $22,330,000 after acquiring an additional 19,218 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

About CommVault Systems

Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault’s platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.