CommVault Systems (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 10,338 Shares of Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 10,338 shares of CommVault Systems stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $78.96, for a total transaction of $816,288.48. Following the transaction, the chief executive officer owned 342,581 shares of the company’s stock, valued at $27,050,195.76. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Sanjay Mirchandani also recently made the following trade(s):

• On Tuesday, March 17th, Sanjay Mirchandani sold 10,052 shares of CommVault Systems stock. The stock was sold at an average price of $80.09, for a total value of $805,064.68.
• On Wednesday, February 18th, Sanjay Mirchandani sold 6,480 shares of CommVault Systems stock. The shares were sold at an average price of $90.28, for a total value of $585,014.40.

CommVault Systems Stock Up 0.5%

Shares of NASDAQ:CVLT opened at $80.55 on Thursday. The stock has a fifty day simple moving average of $95.68 and a two-hundred day simple moving average of $131.17. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 41.52 and a beta of 0.59. CommVault Systems, Inc. has a 12-month low of $77.79 and a 12-month high of $200.68. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.06.

CommVault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, January 27th. The software maker reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.19. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.The firm had revenue of $313.83 million for the quarter, compared to analysts’ expectations of $299.07 million. During the same period in the prior year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. On average, research analysts anticipate that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CVLT has been the subject of a number of analyst reports. Guggenheim reduced their price objective on shares of CommVault Systems from $200.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Cantor Fitzgerald dropped their target price on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. DA Davidson reduced their price target on shares of CommVault Systems from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday. Truist Financial restated a “buy” rating and issued a $155.00 price objective (down from $175.00) on shares of CommVault Systems in a report on Wednesday, January 28th. Finally, Zacks Research raised CommVault Systems from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, CommVault Systems has a consensus rating of “Moderate Buy” and an average price target of $142.75.

Institutional Trading of CommVault Systems

A number of institutional investors have recently made changes to their positions in CVLT. Tudor Investment Corp ET AL purchased a new position in shares of CommVault Systems during the third quarter valued at approximately $1,887,800,000. First Trust Advisors LP boosted its holdings in CommVault Systems by 1,335.8% in the third quarter. First Trust Advisors LP now owns 1,224,856 shares of the software maker’s stock worth $231,228,000 after purchasing an additional 1,139,547 shares during the last quarter. M&T Bank Corp grew its position in CommVault Systems by 22,133.9% in the 4th quarter. M&T Bank Corp now owns 610,098 shares of the software maker’s stock worth $76,482,000 after purchasing an additional 607,354 shares during the period. Westfield Capital Management Co. LP raised its stake in CommVault Systems by 135.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 786,175 shares of the software maker’s stock valued at $148,414,000 after buying an additional 452,422 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in CommVault Systems by 14,047.5% during the 4th quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock valued at $47,885,000 after buying an additional 379,282 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.