Danielle Nicole Abrahamsen Sells 277 Shares of CommVault Systems (NASDAQ:CVLT) Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CAO Danielle Nicole Abrahamsen sold 277 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total value of $29,555.90. Following the completion of the sale, the chief accounting officer owned 13,166 shares of the company’s stock, valued at $1,404,812.20. This represents a 2.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Danielle Nicole Abrahamsen also recently made the following trade(s):

• On Friday, May 22nd, Danielle Nicole Abrahamsen sold 101 shares of CommVault Systems stock. The shares were sold at an average price of $107.39, for a total value of $10,846.39.
• On Wednesday, May 20th, Danielle Nicole Abrahamsen sold 365 shares of CommVault Systems stock. The shares were sold at an average price of $99.13, for a total value of $36,182.45.
• On Tuesday, May 19th, Danielle Nicole Abrahamsen sold 1,065 shares of CommVault Systems stock. The shares were sold at an average price of $105.84, for a total value of $112,719.60.
• On Monday, May 18th, Danielle Nicole Abrahamsen sold 925 shares of CommVault Systems stock. The shares were sold at an average price of $104.52, for a total value of $96,681.00.

CommVault Systems Stock Down 0.8%

NASDAQ:CVLT opened at $107.24 on Thursday. CommVault Systems, Inc. has a 1 year low of $71.75 and a 1 year high of $200.68. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 117.54. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 67.45 and a beta of 0.77. The stock has a 50-day moving average price of $92.09 and a two-hundred day moving average price of $103.52.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. During the same period in the previous year, the firm earned $1.03 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. As a group, equities analysts expect that CommVault Systems, Inc. will post 2.86 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CVLT. Tudor Investment Corp ET AL acquired a new position in shares of CommVault Systems during the third quarter worth about $1,887,800,000. First Trust Advisors LP boosted its position in CommVault Systems by 1,335.8% during the third quarter. First Trust Advisors LP now owns 1,224,856 shares of the software maker’s stock valued at $231,228,000 after purchasing an additional 1,139,547 shares during the last quarter. M&T Bank Corp boosted its position in CommVault Systems by 22,133.9% during the fourth quarter. M&T Bank Corp now owns 610,098 shares of the software maker’s stock valued at $76,482,000 after purchasing an additional 607,354 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in CommVault Systems by 135.6% during the third quarter. Westfield Capital Management Co. LP now owns 786,175 shares of the software maker’s stock valued at $148,414,000 after purchasing an additional 452,422 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in CommVault Systems by 14,047.5% during the fourth quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock valued at $47,885,000 after purchasing an additional 379,282 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting CommVault Systems

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

• Positive Sentiment: Commvault is scheduled to present at the William Blair Growth Conference on June 2, which may help reinforce its growth story and keep investor attention on the business. Commvault to Present at the William Blair Growth Conference
• Neutral Sentiment: Chief Financial Officer Gary Merrill and Chief Accounting Officer Danielle Nicole Abrahamsen disclosed small share sales under pre-arranged 10b5-1 plans tied to tax withholding on equity awards, which is routine and not usually viewed as a major negative signal.
• Negative Sentiment: Several law firms publicly promoted class-action claims against Commvault, reinforcing the market’s focus on the pending securities-fraud case and the earlier sharp selloff tied to weaker-than-expected ARR growth. CVLT Shareholder Alert: Investors With Losses May Seek to Lead the Class Action in Commvault Systems, Inc. Securities Lawsuit

Analyst Upgrades and Downgrades

CVLT has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their target price on CommVault Systems from $100.00 to $110.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Loop Capital assumed coverage on CommVault Systems in a research note on Tuesday, March 24th. They issued a “buy” rating and a $125.00 target price for the company. Stephens reduced their price objective on CommVault Systems from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday, January 28th. Wells Fargo & Company reduced their price objective on CommVault Systems from $190.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, January 28th. Finally, KeyCorp upped their price objective on CommVault Systems from $108.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.00.

CommVault Systems Company Profile

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.