CommVault Systems (NASDAQ:CVLT) CEO Sells $979,179.60 in Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 6,857 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $979,179.60. Following the completion of the transaction, the chief executive officer owned 257,676 shares of the company’s stock, valued at approximately $36,796,132.80. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Tuesday, August 18th, Sanjay Mirchandani sold 4,840 shares of CommVault Systems stock. The shares were sold at an average price of $143.64, for a total value of $695,217.60.
• On Monday, August 17th, Sanjay Mirchandani sold 12,437 shares of CommVault Systems stock. The stock was sold at an average price of $143.98, for a total value of $1,790,679.26.

CommVault Systems Stock Down 3.8%

NASDAQ CVLT traded down $5.49 during trading hours on Wednesday, hitting $137.32. 449,257 shares of the company were exchanged, compared to its average volume of 935,905. 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 $5.69 billion, a price-to-earnings ratio of 87.46 and a beta of 0.81. The company has a 50 day moving average of $138.16 and a two-hundred day moving average of $108.64. CommVault Systems, Inc. has a 52-week low of $71.75 and a 52-week high of $198.18.

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

Institutional Investors Weigh In On CommVault Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of CommVault Systems by 8.6% during 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 purchasing an additional 11,700 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of CommVault Systems in 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 worth $433,000 after buying an additional 294 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in CommVault Systems by 188.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $47,000 after buying an additional 177 shares during the last quarter. Finally, Guggenheim Capital LLC increased its position in CommVault Systems by 43.8% during the second quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock worth $740,000 after buying an additional 1,293 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CVLT has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of CommVault Systems from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. Guggenheim reissued a “buy” rating on shares of CommVault Systems in a report on Tuesday, July 28th. UBS Group restated a “neutral” rating on shares of CommVault Systems in a research note on Monday, July 27th. DA Davidson set a $175.00 price objective on CommVault Systems in a research report on Wednesday, July 29th. Finally, Truist Financial increased their price objective on CommVault Systems from $155.00 to $182.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $152.47.

CommVault Systems Company Profile

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.