CommVault Systems (NASDAQ:CVLT) CEO Sells 12,437 Shares of Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 12,437 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the sale, the chief executive officer owned 269,373 shares in the company, valued at $38,784,324.54. This represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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.

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

• On Wednesday, August 19th, Sanjay Mirchandani sold 6,857 shares of CommVault Systems stock. The stock was sold at an average price of $142.80, for a total value of $979,179.60.
• On Tuesday, August 18th, Sanjay Mirchandani sold 4,840 shares of CommVault Systems stock. The shares were sold at an average price of $143.64, for a total value of $695,217.60.

CommVault Systems Trading Down 3.8%

Shares of NASDAQ CVLT traded down $5.49 during trading hours on Wednesday, hitting $137.32. 449,257 shares of the company traded hands, compared to its average volume of 935,905. The company’s 50 day moving average price is $138.16 and its 200 day moving average price is $108.64. CommVault Systems, Inc. has a 12 month low of $71.75 and a 12 month high of $198.18. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 87.46 and a beta of 0.81. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 16.94.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.26. The company had revenue of $314.13 million during the quarter, compared to the consensus estimate of $310.43 million. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.CommVault Systems’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $1.01 earnings per share. On average, equities research analysts anticipate that CommVault Systems, Inc. will post 2.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVLT has been the topic of several analyst reports. DA Davidson set a $175.00 price target on shares of CommVault Systems in a report on Wednesday, July 29th. Jefferies Financial Group restated a “hold” rating and set a $130.00 target price on shares of CommVault Systems in a research report on Wednesday, July 29th. Royal Bank Of Canada upped 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. UBS Group reiterated a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $132.00 price objective on shares of CommVault Systems in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.47.

Hedge Funds Weigh In On CommVault Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Boston Trust Walden Corp acquired a new stake in CommVault Systems during the 4th quarter valued at approximately $30,830,000. Intech Investment Management LLC raised its holdings in shares of CommVault Systems by 52.4% during the fourth quarter. Intech Investment Management LLC now owns 86,634 shares of the software maker’s stock worth $10,860,000 after purchasing an additional 29,796 shares during the last quarter. Epoch Investment Partners Inc. purchased a new position in shares of CommVault Systems during the fourth quarter worth $27,278,000. Madison Asset Management LLC lifted its position in CommVault Systems by 39.7% during the first quarter. Madison Asset Management LLC now owns 33,459 shares of the software maker’s stock valued at $2,606,000 after purchasing an additional 9,512 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in CommVault Systems by 410.8% in the fourth quarter. BNP Paribas Financial Markets now owns 320,468 shares of the software maker’s stock valued at $40,174,000 after purchasing an additional 257,729 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

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.