Insider Selling: Commvault Systems, Inc. (NASDAQ:CVLT) Director Sells 1,232 Shares of Stock

Commvault Systems, Inc. (NASDAQ:CVLT) Director Allison Pickens sold 1,232 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $172.50, for a total transaction of $212,520.00. Following the sale, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. This trade represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Commvault Systems Price Performance

Shares of NASDAQ:CVLT traded down $0.46 during midday trading on Tuesday, hitting $170.39. 216,034 shares of the company’s stock were exchanged, compared to its average volume of 356,082. The stock has a 50 day moving average price of $158.79 and a 200-day moving average price of $140.93. Commvault Systems, Inc. has a 12 month low of $73.33 and a 12 month high of $178.72. The company has a market cap of $7.45 billion, a PE ratio of 43.25 and a beta of 0.61.

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

Analyst Ratings Changes

CVLT has been the subject of a number of analyst reports. Oppenheimer initiated coverage on shares of Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price for the company. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price target 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. DA Davidson raised their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Guggenheim cut shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $151.25.

Institutional Trading of Commvault Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank increased its position in shares of Commvault Systems by 23.7% during the first quarter. Comerica Bank now owns 22,028 shares of the software maker’s stock valued at $2,234,000 after acquiring an additional 4,224 shares in the last quarter. GAMMA Investing LLC grew its holdings in Commvault Systems by 140.5% during the 2nd quarter. GAMMA Investing LLC now owns 529 shares of the software maker’s stock valued at $64,000 after buying an additional 309 shares in the last quarter. OLD National Bancorp IN purchased a new stake in shares of Commvault Systems during the 2nd quarter valued at about $275,000. SG Americas Securities LLC increased its position in Commvault Systems by 504.6% during the second quarter. SG Americas Securities LLC now owns 13,016 shares of the software maker’s stock valued at $1,582,000 after acquiring an additional 10,863 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in shares of Commvault Systems by 124.8% in the second quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after buying an additional 196 shares during the period. Institutional investors own 93.50% of the company’s stock.

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.