Gary Merrill Sells 4,554 Shares of CommVault Systems (NASDAQ:CVLT) Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CFO Gary Merrill sold 4,554 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $106.70, for a total transaction of $485,911.80. Following the transaction, the chief financial officer owned 72,775 shares of the company’s stock, valued at $7,765,092.50. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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.

Gary Merrill also recently made the following trade(s):

• On Friday, May 22nd, Gary Merrill sold 3,777 shares of CommVault Systems stock. The shares were sold at an average price of $107.39, for a total transaction of $405,612.03.
• On Tuesday, May 19th, Gary Merrill sold 4,560 shares of CommVault Systems stock. The shares were sold at an average price of $105.10, for a total transaction of $479,256.00.
• On Monday, May 18th, Gary Merrill sold 3,098 shares of CommVault Systems stock. The shares were sold at an average price of $104.54, for a total transaction of $323,864.92.

CommVault Systems Price Performance

CommVault Systems stock opened at $107.24 on Thursday. The firm has a 50-day moving average price of $92.09 and a 200-day moving average price of $103.52. The firm has a market capitalization of $4.42 billion, a PE ratio of 67.45 and a beta of 0.77. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 117.54. CommVault Systems, Inc. has a 12-month low of $71.75 and a 12-month high of $200.68.

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

More CommVault Systems News

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 Ratings Changes

CVLT has been the topic of a number of recent analyst reports. Scotiabank increased their price objective on shares of CommVault Systems from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. DA Davidson reissued a “buy” rating and issued a $125.00 price objective on shares of CommVault Systems in a research report on Monday, April 13th. Stephens reduced their price objective on shares of CommVault Systems from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Wall Street Zen lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, KeyCorp increased their price objective on shares of 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 stock. Based on data from MarketBeat.com, CommVault Systems currently has an average rating of “Moderate Buy” and a consensus target price of $135.00.

Institutional Trading of CommVault Systems

Large investors have recently modified their holdings of the company. State of Wyoming purchased a new stake in shares of CommVault Systems in the second quarter valued at approximately $35,000. Banque Cantonale Vaudoise purchased a new stake in shares of CommVault Systems in the third quarter valued at approximately $39,000. Cullen Frost Bankers Inc. boosted its holdings in shares of CommVault Systems by 43.8% in the third quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock valued at $46,000 after purchasing an additional 74 shares during the period. Assetmark Inc. boosted its holdings in shares of CommVault Systems by 2,950.0% in the third quarter. Assetmark Inc. now owns 244 shares of the software maker’s stock valued at $46,000 after purchasing an additional 236 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of CommVault Systems in the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.