CommVault Systems (NASDAQ:CVLT) CEO Sells $1,790,679.26 in Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 12,437 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $143.98, for a total transaction of $1,790,679.26. Following the sale, the chief executive officer directly owned 269,373 shares in the company, valued at $38,784,324.54. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 Tuesday, August 18th, Sanjay Mirchandani sold 4,840 shares of CommVault Systems stock. The stock was sold at an average price of $143.64, for a total transaction of $695,217.60.

CommVault Systems Trading Up 1.7%

CVLT stock opened at $133.81 on Friday. CommVault Systems, Inc. has a 52-week low of $71.75 and a 52-week high of $198.18. 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 firm has a market cap of $5.55 billion, a P/E ratio of 85.23 and a beta of 0.81. The company’s 50-day simple moving average is $138.61 and its 200-day simple moving average is $109.49.

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

Institutional Investors Weigh In On CommVault Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of CommVault Systems by 8.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock worth $23,255,000 after buying an additional 11,700 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in CommVault Systems during the 2nd quarter valued at about $327,000. Cetera Investment Advisers grew its stake in CommVault Systems by 13.4% during the 2nd quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock valued at $433,000 after acquiring an additional 294 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in CommVault Systems by 188.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $47,000 after acquiring an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC raised its holdings in CommVault Systems by 43.8% in the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock valued at $740,000 after acquiring an additional 1,293 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

CVLT has been the subject of several research analyst reports. Truist Financial upped their target price on CommVault Systems from $155.00 to $182.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Mizuho boosted their price target on shares of CommVault Systems from $140.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Stephens boosted their price target on shares of CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, June 16th. Oppenheimer upped their price objective on shares of CommVault Systems from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, Wolfe Research began coverage on shares of CommVault Systems in a report on Friday, May 1st. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CommVault Systems presently has an average rating of “Moderate Buy” and an average price target 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.