CommVault Systems (NASDAQ:CVLT) CEO Sells $695,217.60 in Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 4,840 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $143.64, for a total value of $695,217.60. Following the sale, the chief executive officer owned 264,533 shares of the company’s stock, valued at $37,997,520.12. The trade was a 1.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $142.80, for a total transaction of $979,179.60.
• On Monday, August 17th, Sanjay Mirchandani sold 12,437 shares of CommVault Systems stock. The shares were sold at an average price of $143.98, for a total transaction of $1,790,679.26.

CommVault Systems Trading Up 1.7%

Shares of CVLT stock 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. CommVault Systems, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $198.18. The firm’s 50 day moving average price is $138.61 and its two-hundred day moving average price is $109.49. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 85.23 and a beta of 0.81.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business earned $1.01 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, analysts anticipate that CommVault Systems, Inc. will post 2.84 EPS for the current year.

Institutional Investors Weigh In On CommVault Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC acquired a new position in CommVault Systems in the 2nd quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in CommVault Systems in the 2nd quarter valued at about $27,000. State of Wyoming acquired a new stake in shares of CommVault Systems during the second quarter valued at about $35,000. Banque Cantonale Vaudoise acquired a new stake in shares of CommVault Systems during the third quarter valued at about $39,000. Finally, Silvant Capital Management LLC purchased a new stake in shares of CommVault Systems during the second quarter worth about $30,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVLT. Jefferies Financial Group reiterated a “hold” rating and issued a $130.00 price target on shares of CommVault Systems in a report on Wednesday, July 29th. Oppenheimer upped their target price on CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. KeyCorp increased their target price on CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Piper Sandler downgraded CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 target price on the stock. in a report on Tuesday, July 28th. Finally, Guggenheim reissued a “buy” rating on shares of CommVault Systems in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $152.47.

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.