Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 10,775 Shares

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the transaction, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. This represents a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Commvault Systems Price Performance

CVLT stock opened at $170.75 on Friday. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 43.23 and a beta of 0.59. Commvault Systems, Inc. has a 1-year low of $69.71 and a 1-year high of $178.29. The firm has a fifty day moving average price of $155.16 and a two-hundred day moving average price of $137.19.

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

Hedge Funds Weigh In On Commvault Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. grew its stake in shares of Commvault Systems by 1.3% in the second quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock worth $775,000 after purchasing an additional 79 shares in the last quarter. EFG Asset Management North America Corp. increased its stake in Commvault Systems by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after buying an additional 103 shares during the period. Natixis Advisors LLC raised its position in shares of Commvault Systems by 1.0% during the 2nd quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock worth $1,665,000 after buying an additional 138 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Commvault Systems by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after acquiring an additional 139 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Commvault Systems by 5.9% during the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock valued at $334,000 after acquiring an additional 153 shares during the period. 93.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CVLT shares. KeyCorp increased their target price on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada lifted their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Oppenheimer began coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Finally, Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Commvault Systems has a consensus rating of “Moderate Buy” and an average price target 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.