Sanjay Mirchandani Sells 10,775 Shares of Commvault Systems, Inc. (NASDAQ:CVLT) Stock

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the transaction, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. This trade represents a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Commvault Systems Trading Down 0.1 %

Shares of CVLT stock opened at $170.75 on Friday. Commvault Systems, Inc. has a 12-month low of $69.71 and a 12-month high of $178.29. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 43.23 and a beta of 0.59. The stock has a 50 day simple moving average of $155.16 and a 200-day simple moving average of $137.19.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CVLT shares. DA Davidson raised their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. KeyCorp increased their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.25.

Institutional Trading of Commvault Systems

A number of institutional investors have recently added to or reduced their stakes in CVLT. Virtu Financial LLC acquired a new stake in shares of Commvault Systems during the 3rd quarter valued at approximately $774,000. TD Private Client Wealth LLC purchased a new position in Commvault Systems in the 3rd quarter valued at approximately $105,000. Chiron Investment Management LLC purchased a new stake in Commvault Systems during the third quarter worth $389,000. Vestcor Inc grew its holdings in Commvault Systems by 1,552.4% in the third quarter. Vestcor Inc now owns 81,693 shares of the software maker’s stock valued at $12,568,000 after purchasing an additional 76,749 shares during the last quarter. Finally, Zacks Investment Management purchased a new position in shares of Commvault Systems in the third quarter valued at $227,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.