Commvault Systems, Inc. (NASDAQ:CVLT) Insider Gary Merrill Sells 1,748 Shares of Stock

Commvault Systems, Inc. (NASDAQ:CVLT) insider Gary Merrill sold 1,748 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction of $305,742.68. Following the sale, the insider now owns 89,923 shares of the company’s stock, valued at approximately $15,728,431.93. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Commvault Systems Trading Up 2.4%

Commvault Systems stock opened at $178.66 on Wednesday. Commvault Systems, Inc. has a 1-year low of $105.76 and a 1-year high of $190.11. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 46.89 and a beta of 0.71. The firm’s fifty day moving average price is $163.83 and its two-hundred day moving average price is $165.03.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The firm had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. During the same period last year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, research analysts forecast that Commvault Systems, Inc. will post 1.65 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Cantor Fitzgerald raised their price target on shares of Commvault Systems from $159.00 to $173.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Oppenheimer raised their price target on shares of Commvault Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Thursday, May 1st. Guggenheim restated a “neutral” rating on shares of Commvault Systems in a report on Wednesday, April 23rd. Finally, Piper Sandler reduced their price target on shares of Commvault Systems from $154.00 to $147.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $175.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CVLT. Quarry LP grew its position in Commvault Systems by 888.2% in the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after purchasing an additional 151 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Commvault Systems by 101.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker’s stock valued at $25,000 after buying an additional 80 shares during the last quarter. Whipplewood Advisors LLC increased its stake in Commvault Systems by 584.0% in the 1st quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock valued at $27,000 after buying an additional 146 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Commvault Systems in the 1st quarter valued at about $27,000. Finally, Brooklyn Investment Group increased its stake in Commvault Systems by 8,550.0% in the 1st quarter. Brooklyn Investment Group now owns 173 shares of the software maker’s stock valued at $27,000 after buying an additional 171 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

About Commvault Systems

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.