Key Points
- CEO Sanjay Mirchandani sold 10,052 shares on March 17 at an average price of $80.09 for about $805,065; he also sold 10,338 shares on March 16 and 6,480 shares on Feb 18, and now directly owns 332,529 shares (a 2.93% reduction in ownership).
- CommVault recently beat quarterly estimates with $1.17 EPS vs. $0.98 expected and revenue of $313.8M (up 19.5% YoY), while the stock trades below its 50- and 200-day moving averages and carries a consensus analyst rating of "Moderate Buy" with a $142.75 price target despite several downward target revisions.
CommVault Systems, Inc. (NASDAQ:CVLT - Get Free Report) CEO Sanjay Mirchandani sold 10,052 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total transaction of $805,064.68. Following the completion of the sale, the chief executive officer directly owned 332,529 shares in the company, valued at approximately $26,632,247.61. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Sanjay Mirchandani also recently made the following trade(s):
- On Monday, March 16th, Sanjay Mirchandani sold 10,338 shares of CommVault Systems stock. The shares were sold at an average price of $78.96, for a total transaction of $816,288.48.
- On Wednesday, February 18th, Sanjay Mirchandani sold 6,480 shares of CommVault Systems stock. The stock was sold at an average price of $90.28, for a total transaction of $585,014.40.
CommVault Systems Stock Performance
Shares of CVLT stock opened at $80.55 on Thursday. The company has a market cap of $3.54 billion, a P/E ratio of 41.52 and a beta of 0.59. The firm has a fifty day moving average price of $95.68 and a 200 day moving average price of $131.17. 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, Inc. has a 12 month low of $77.79 and a 12 month high of $200.68.
CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.19. The company had revenue of $313.83 million for the quarter, compared to analysts' expectations of $299.07 million. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.CommVault Systems's quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. Sell-side analysts predict that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.
Analyst Ratings Changes
CVLT has been the subject of several recent analyst reports. Piper Sandler decreased their target price on CommVault Systems from $186.00 to $155.00 and set an "overweight" rating for the company in a research note on Monday, January 5th. Royal Bank Of Canada dropped their price target on shares of CommVault Systems from $167.00 to $100.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 28th. Truist Financial reissued a "buy" rating and set a $155.00 price objective (down from $175.00) on shares of CommVault Systems in a report on Wednesday, January 28th. Wall Street Zen upgraded shares of CommVault Systems from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. Finally, Stephens dropped their target price on shares of CommVault Systems from $162.00 to $135.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $142.75.
Read Our Latest Report on CVLT
Institutional Trading of CommVault Systems
A number of large investors have recently made changes to their positions in CVLT. Federated Hermes Inc. boosted its holdings in shares of CommVault Systems by 9.7% in the third quarter. Federated Hermes Inc. now owns 322,053 shares of the software maker's stock valued at $60,797,000 after acquiring an additional 28,596 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of CommVault Systems by 131.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 382,778 shares of the software maker's stock valued at $72,261,000 after acquiring an additional 217,557 shares during the period. Emerald Advisers LLC increased its holdings in shares of CommVault Systems by 47.4% in the 3rd quarter. Emerald Advisers LLC now owns 156,894 shares of the software maker's stock valued at $29,618,000 after acquiring an additional 50,470 shares during the period. Strengthening Families & Communities LLC raised its position in CommVault Systems by 2,215.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 18,037 shares of the software maker's stock valued at $3,350,000 after purchasing an additional 17,258 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in CommVault Systems by 19.4% during the 3rd quarter. Victory Capital Management Inc. now owns 118,284 shares of the software maker's stock worth $22,330,000 after purchasing an additional 19,218 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.
About CommVault Systems
(
Get Free Report)
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.
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