Insider Selling: CommVault Systems (NASDAQ:CVLT) CEO Sells $979,179.60 in Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 6,857 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total value of $979,179.60. Following the transaction, the chief executive officer directly owned 257,676 shares in the company, valued at $36,796,132.80. The trade was a 2.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, August 18th, Sanjay Mirchandani sold 4,840 shares of CommVault Systems stock. The shares were sold at an average price of $143.64, for a total value of $695,217.60.
• On Monday, August 17th, Sanjay Mirchandani sold 12,437 shares of CommVault Systems stock. The stock was sold at an average price of $143.98, for a total transaction of $1,790,679.26.

CommVault Systems Stock Up 1.7%

Shares of CommVault Systems stock opened at $133.81 on Friday. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04. CommVault Systems, Inc. has a 1 year low of $71.75 and a 1 year high of $198.18. The firm’s 50-day moving average is $138.61 and its two-hundred day moving average is $109.49. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 85.23 and a beta of 0.81.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, beating the consensus estimate of $1.16 by $0.26. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The business had revenue of $314.13 million during the quarter, compared to analyst estimates of $310.43 million. During the same quarter in the previous year, the business posted $1.01 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, research analysts expect that CommVault Systems, Inc. will post 2.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on CVLT. Scotiabank restated a “sector perform” rating and set a $130.00 target price on shares of CommVault Systems in a report on Wednesday, July 29th. Stephens boosted their price target on CommVault Systems from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 16th. Mizuho upped their price objective on CommVault Systems from $140.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. KeyCorp raised their price objective on CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $130.00 target price on shares of CommVault Systems in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.47.

Institutional Trading of CommVault Systems

A number of institutional investors have recently made changes to their positions in CVLT. BlackRock Inc. purchased a new stake in CommVault Systems in the second quarter valued at about $855,420,000. M&T Bank Corp grew its stake in shares of CommVault Systems by 22,133.9% during the fourth quarter. M&T Bank Corp now owns 610,098 shares of the software maker’s stock worth $76,482,000 after acquiring an additional 607,354 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of CommVault Systems during the second quarter worth about $65,765,000. American Capital Management Inc. acquired a new position in shares of CommVault Systems during the second quarter valued at about $62,493,000. Finally, TD Asset Management Inc increased its holdings in shares of CommVault Systems by 14,047.5% during the fourth quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock valued at $47,885,000 after acquiring an additional 379,282 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

About CommVault Systems

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.