Insider Selling: CommVault Systems (NASDAQ:CVLT) CFO Sells $184,640.40 in Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CFO Gary Merrill sold 1,293 shares of CommVault Systems stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $184,640.40. Following the completion of the sale, the chief financial officer directly owned 69,628 shares of the company’s stock, valued at $9,942,878.40. The trade was a 1.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.

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

• On Tuesday, August 18th, Gary Merrill sold 1,854 shares of CommVault Systems stock. The shares were sold at an average price of $143.64, for a total value of $266,308.56.
• On Tuesday, May 26th, Gary Merrill sold 4,554 shares of CommVault Systems stock. The shares were sold at an average price of $106.70, for a total value of $485,911.80.
• 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.

CommVault Systems Price Performance

Shares of NASDAQ:CVLT opened at $133.81 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The stock has a market capitalization of $5.55 billion, a PE ratio of 85.23 and a beta of 0.81. The firm’s 50 day moving average price is $138.61 and its 200-day moving average price is $109.49. CommVault Systems, Inc. has a twelve month low of $71.75 and a twelve month high of $198.18.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The company had revenue of $314.13 million during the quarter, compared to analyst estimates of $310.43 million. During the same period in the previous year, the business posted $1.01 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that CommVault Systems, Inc. will post 2.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVLT. Royal Bank Of Canada boosted their price objective on shares of CommVault Systems from $100.00 to $110.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Weiss Ratings raised CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. Wolfe Research initiated coverage on CommVault Systems in a research report on Friday, May 1st. They set a “peer perform” rating on the stock. Piper Sandler lowered CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price target for the company. in a report on Tuesday, July 28th. Finally, Truist Financial upped their price target on CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, CommVault Systems presently has an average rating of “Moderate Buy” and an average target price of $152.47.

Hedge Funds Weigh In On CommVault Systems

A number of hedge funds have recently modified their holdings of the company. Transamerica Financial Advisors LLC purchased a new stake in shares of CommVault Systems in the second quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of CommVault Systems during the 2nd quarter valued at $27,000. Silvant Capital Management LLC purchased a new position in shares of CommVault Systems during the 2nd quarter valued at $30,000. State of Wyoming purchased a new position in shares of CommVault Systems during the 2nd quarter valued at $35,000. Finally, Essential Partners LLC boosted its holdings in CommVault Systems by 9,920.0% in the 1st quarter. Essential Partners LLC now owns 501 shares of the software maker’s stock worth $39,000 after buying an additional 496 shares during the period. 93.50% of the stock is currently owned by institutional investors.

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.