CommVault Systems (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 10,052 Shares

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 10,052 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 332,529 shares in the company, valued at approximately $26,632,247.61. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 NASDAQ CVLT opened at $80.55 on Thursday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 4.06. The business’s 50 day moving average is $95.68 and its two-hundred day moving average is $131.17. CommVault Systems, Inc. has a 52-week low of $77.79 and a 52-week high of $200.68. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 41.52 and a beta of 0.59.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, topping the consensus estimate of $0.98 by $0.19. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.The business had revenue of $313.83 million during the quarter, compared to analyst estimates of $299.07 million. During the same period last year, the business posted $0.94 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. Research analysts predict that CommVault Systems, Inc. will post 1.65 EPS for the current year.

Analyst Upgrades and Downgrades

CVLT has been the subject of several research reports. Wall Street Zen raised CommVault Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Truist Financial reissued a “buy” rating and set a $155.00 price target (down from $175.00) on shares of CommVault Systems in a research report on Wednesday, January 28th. Zacks Research raised shares of CommVault Systems from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Piper Sandler dropped their price objective on shares of CommVault Systems from $186.00 to $155.00 and set an “overweight” rating for the company in a report on Monday, January 5th. Finally, Cantor Fitzgerald cut their target price on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, CommVault Systems has an average rating of “Moderate Buy” and a consensus price target of $142.75.

Institutional Investors Weigh In On CommVault Systems

Several large investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL acquired a new stake in CommVault Systems in the 3rd quarter valued at about $1,887,800,000. Vanguard Group Inc. grew its position in shares of CommVault Systems by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 5,675,590 shares of the software maker’s stock worth $711,492,000 after buying an additional 240,093 shares in the last quarter. First Trust Advisors LP grew its position in shares of CommVault Systems by 25.5% during the fourth quarter. First Trust Advisors LP now owns 1,537,034 shares of the software maker’s stock worth $192,683,000 after buying an additional 312,178 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in shares of CommVault Systems by 34.5% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,057,077 shares of the software maker’s stock worth $132,515,000 after buying an additional 270,902 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in shares of CommVault Systems by 17.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 909,982 shares of the software maker’s stock worth $114,124,000 after buying an additional 138,091 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.