Gary Merrill Sells 1,523 Shares of Commvault Systems, Inc. (NASDAQ:CVLT) Stock

Commvault Systems, Inc. (NASDAQ:CVLT) insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $164.89, for a total value of $251,127.47. Following the sale, the insider now directly owns 93,007 shares in the company, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, August 27th, Gary Merrill sold 17,388 shares of Commvault Systems stock. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88.

Commvault Systems Trading Up 1.4 %

Shares of NASDAQ:CVLT traded up $2.31 on Wednesday, reaching $170.96. 286,004 shares of the company traded hands, compared to its average volume of 359,339. The business’s 50-day simple moving average is $154.65 and its 200 day simple moving average is $136.95. Commvault Systems, Inc. has a 52 week low of $69.71 and a 52 week high of $178.29. The stock has a market capitalization of $7.48 billion, a P/E ratio of 42.70 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The company had revenue of $233.28 million for the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. Commvault Systems’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Sell-side analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Institutional Trading of Commvault Systems

Several institutional investors and hedge funds have recently bought and sold shares of CVLT. National Bank of Canada FI purchased a new stake in Commvault Systems in the second quarter worth about $30,000. Capital Performance Advisors LLP purchased a new position in Commvault Systems in the 3rd quarter worth approximately $33,000. Hexagon Capital Partners LLC raised its holdings in Commvault Systems by 124.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after acquiring an additional 196 shares during the last quarter. Signaturefd LLC raised its holdings in Commvault Systems by 70.8% in the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock worth $50,000 after acquiring an additional 170 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in Commvault Systems in the 2nd quarter worth approximately $56,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVLT. KeyCorp upped their target price on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. DA Davidson raised their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their target price on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.25.

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.