Commvault Systems, Inc. (NASDAQ:CVLT) CFO Gary Merrill Sells 5,691 Shares

Commvault Systems, Inc. (NASDAQ:CVLT) CFO Gary Merrill sold 5,691 shares of Commvault Systems stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $110.60, for a total value of $629,424.60. Following the completion of the sale, the chief financial officer now owns 117,811 shares in the company, valued at $13,029,896.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, May 16th, Gary Merrill sold 6,040 shares of Commvault Systems stock. The stock was sold at an average price of $110.20, for a total transaction of $665,608.00.
• On Monday, March 4th, Gary Merrill sold 822 shares of Commvault Systems stock. The shares were sold at an average price of $97.25, for a total transaction of $79,939.50.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT opened at $110.03 on Thursday. Commvault Systems, Inc. has a 12 month low of $63.70 and a 12 month high of $113.37. The firm has a market capitalization of $4.78 billion, a P/E ratio of 29.26 and a beta of 0.64. The company’s fifty day moving average price is $101.78 and its 200 day moving average price is $89.14.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.10. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. The business had revenue of $223.29 million during the quarter, compared to the consensus estimate of $213.00 million. On average, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.7 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. KeyCorp upped their target price on Commvault Systems from $109.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on shares of Commvault Systems from $97.00 to $112.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 1st. Wells Fargo & Company boosted their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Lake Street Capital raised their price target on shares of Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, DA Davidson upped their price objective on Commvault Systems from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.40.

Institutional Trading of Commvault Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank increased its holdings in Commvault Systems by 23.7% in the first quarter. Comerica Bank now owns 22,028 shares of the software maker’s stock valued at $2,234,000 after buying an additional 4,224 shares in the last quarter. Virtus Investment Advisers Inc. increased its stake in Commvault Systems by 10.1% in the 1st quarter. Virtus Investment Advisers Inc. now owns 13,316 shares of the software maker’s stock valued at $1,351,000 after purchasing an additional 1,226 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Commvault Systems during the first quarter worth $351,000. Aristides Capital LLC purchased a new stake in Commvault Systems during the first quarter worth $277,000. Finally, BOKF NA boosted its position in Commvault Systems by 55.3% during the first quarter. BOKF NA now owns 3,119 shares of the software maker’s stock worth $313,000 after purchasing an additional 1,110 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Company Profile

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.