CommVault Systems (NASDAQ:CVLT) CEO Sells $805,064.68 in Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 10,052 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $80.09, for a total transaction of $805,064.68. Following the completion of the sale, the chief executive officer directly owned 332,529 shares of the company’s stock, valued at approximately $26,632,247.61. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 16th, Sanjay Mirchandani sold 10,338 shares of CommVault Systems stock. The stock was sold at an average price of $78.96, for a total transaction of $816,288.48.
• On Wednesday, February 18th, Sanjay Mirchandani sold 6,480 shares of CommVault Systems stock. The shares were sold at an average price of $90.28, for a total transaction of $585,014.40.

CommVault Systems Stock Up 0.5%

Shares of CVLT traded up $0.42 during mid-day trading on Wednesday, hitting $80.55. The company’s stock had a trading volume of 1,252,812 shares, compared to its average volume of 1,090,966. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06. The company’s 50-day moving average is $96.64 and its 200-day moving average is $131.52. CommVault Systems, Inc. has a 52-week low of $77.79 and a 52-week high of $200.68. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 41.52 and a beta of 0.59.

CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, January 27th. The software maker reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.19. The company had revenue of $313.83 million for the quarter, compared to analyst estimates of $299.07 million. CommVault Systems had a net margin of 7.58% and a return on equity of 37.38%. CommVault Systems’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. On average, equities research analysts forecast that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Analyst Ratings Changes

CVLT has been the subject of several recent research reports. DA Davidson reduced their price target on CommVault Systems from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday. Royal Bank Of Canada cut their target price on CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 28th. KeyCorp decreased their price target on shares of CommVault Systems from $152.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of CommVault Systems in a report on Wednesday, January 21st. Finally, Cantor Fitzgerald cut their price objective on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.75.

Institutional Trading of CommVault Systems

A number of institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. increased its stake in CommVault Systems by 9.7% during the 3rd quarter. Federated Hermes Inc. now owns 322,053 shares of the software maker’s stock valued at $60,797,000 after purchasing an additional 28,596 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of CommVault Systems by 131.7% during the third quarter. JPMorgan Chase & Co. now owns 382,778 shares of the software maker’s stock worth $72,261,000 after buying an additional 217,557 shares during the period. Emerald Advisers LLC grew its holdings in shares of CommVault Systems by 47.4% during the third quarter. Emerald Advisers LLC now owns 156,894 shares of the software maker’s stock valued at $29,618,000 after buying an additional 50,470 shares during the last quarter. Strengthening Families & Communities LLC increased its position in shares of CommVault Systems by 2,215.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 18,037 shares of the software maker’s stock valued at $3,350,000 after acquiring an additional 17,258 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of CommVault Systems by 19.4% in the 3rd quarter. Victory Capital Management Inc. now owns 118,284 shares of the software maker’s stock valued at $22,330,000 after acquiring an additional 19,218 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.