Insider Selling: Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sells 10,775 Shares of Stock

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 10,775 shares of the business’s 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 owns 459,969 shares of the company’s stock, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Commvault Systems Stock Up 2.3 %

Shares of NASDAQ CVLT opened at $174.60 on Friday. Commvault Systems, Inc. has a 52 week low of $70.30 and a 52 week high of $178.29. The business’s 50 day moving average price is $155.64 and its 200 day moving average price is $137.42. The firm has a market cap of $7.64 billion, a P/E ratio of 44.20 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS 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 business had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. During the same period in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, research analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On Commvault Systems

A number of institutional investors have recently modified their holdings of the stock. National Bank of Canada FI acquired a new stake in Commvault Systems during the second quarter worth about $30,000. Capital Performance Advisors LLP purchased a new stake in Commvault Systems in the 3rd quarter worth approximately $33,000. Hexagon Capital Partners LLC grew its stake in shares of Commvault Systems by 124.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 353 shares of the software maker’s stock worth $43,000 after purchasing an additional 196 shares during the period. Signaturefd LLC increased its holdings in shares of Commvault Systems by 70.8% during the 2nd quarter. Signaturefd LLC now owns 410 shares of the software maker’s stock valued at $50,000 after purchasing an additional 170 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Commvault Systems in the 2nd quarter valued at $56,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

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

About Commvault Systems

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.