Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 17,949 Shares

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 17,949 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $110.63, for a total transaction of $1,985,697.87. Following the transaction, the chief executive officer now owns 514,383 shares in the company, valued at $56,906,191.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, May 16th, Sanjay Mirchandani sold 15,975 shares of Commvault Systems stock. The shares were sold at an average price of $110.20, for a total transaction of $1,760,445.00.
• On Monday, March 4th, Sanjay Mirchandani sold 21,494 shares of Commvault Systems stock. The shares were sold at an average price of $97.82, for a total transaction of $2,102,543.08.

Commvault Systems Trading Down 0.6 %

NASDAQ CVLT opened at $110.03 on Thursday. The company has a fifty day simple moving average of $101.78 and a two-hundred day simple moving average of $89.14. The stock has a market cap of $4.78 billion, a P/E ratio of 29.26 and a beta of 0.64. Commvault Systems, Inc. has a 12-month low of $63.70 and a 12-month high of $113.37.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. The business had revenue of $223.29 million during the quarter, compared to analysts’ expectations of $213.00 million. Commvault Systems had a net margin of 20.13% and a return on equity of 31.27%. As a group, sell-side analysts forecast that Commvault Systems, Inc. will post 1.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank raised its holdings in shares of Commvault Systems by 23.7% in the first quarter. Comerica Bank now owns 22,028 shares of the software maker’s stock worth $2,234,000 after buying an additional 4,224 shares during the last quarter. Virtus Investment Advisers Inc. raised its holdings in shares of Commvault Systems by 10.1% during the first quarter. Virtus Investment Advisers Inc. now owns 13,316 shares of the software maker’s stock worth $1,351,000 after purchasing an additional 1,226 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of Commvault Systems during the first quarter worth $351,000. Aristides Capital LLC purchased a new position in shares of Commvault Systems during the first quarter worth $277,000. Finally, BOKF NA raised its holdings in shares of Commvault Systems by 55.3% during the first quarter. BOKF NA now owns 3,119 shares of the software maker’s stock worth $313,000 after purchasing an additional 1,110 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CVLT. DA Davidson increased their price objective on shares of Commvault Systems from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada raised their target price on shares of Commvault Systems from $97.00 to $112.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 1st. KeyCorp raised their target price on shares of Commvault Systems from $109.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised their target price on shares of Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Finally, Lake Street Capital raised their target price on shares of Commvault Systems from $86.00 to $98.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.40.

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.