Key Points
- CommVault Systems CEO Sanjay Mirchandani sold 8,457 shares on May 18 at an average price of $104.54, worth about $884,095. The filing says the sale was to cover tax withholding tied to vested equity awards, not a discretionary exit.
- The CEO has also sold shares multiple times this year, including additional sales in February and March. After the latest transaction, he still directly owned 334,773 shares, valued at roughly $35.0 million.
- CommVault recently beat quarterly expectations, reporting EPS of $1.28 versus $1.09 expected and revenue of $311.69 million versus $306.71 million expected. However, the stock was down 3.8% amid broader concerns, including securities lawsuit headlines.
CommVault Systems, Inc. (NASDAQ:CVLT - Get Free Report) CAO Danielle Nicole Abrahamsen sold 925 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $104.52, for a total value of $96,681.00. Following the completion of the sale, the chief accounting officer directly owned 14,646 shares in the company, valued at approximately $1,530,799.92. This trade represents a 5.94% decrease in their position. The sale was disclosed in a legal 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.
CommVault Systems Trading Down 3.8%
Shares of NASDAQ CVLT opened at $101.96 on Wednesday. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 64.13 and a beta of 0.77. CommVault Systems, Inc. has a 12-month low of $71.75 and a 12-month high of $200.68. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 117.54. The stock's 50 day simple moving average is $89.02 and its 200 day simple moving average is $104.69.
CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. The business had revenue of $311.69 million for the quarter, compared to the consensus estimate of $306.71 million. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The business's revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Equities research analysts expect that CommVault Systems, Inc. will post 2.86 EPS for the current year.
Institutional Trading of CommVault Systems
Several large investors have recently added to or reduced their stakes in CVLT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CommVault Systems by 8.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker's stock valued at $23,255,000 after acquiring an additional 11,700 shares during the period. Sivia Capital Partners LLC acquired a new stake in CommVault Systems in the 2nd quarter valued at approximately $327,000. Cetera Investment Advisers increased its position in CommVault Systems by 13.4% in the 2nd quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker's stock valued at $433,000 after acquiring an additional 294 shares during the period. EverSource Wealth Advisors LLC increased its position in CommVault Systems by 188.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock valued at $47,000 after acquiring an additional 177 shares during the period. Finally, Guggenheim Capital LLC increased its position in shares of CommVault Systems by 43.8% during the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker's stock valued at $740,000 after purchasing an additional 1,293 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on CVLT shares. Weiss Ratings reissued a "hold (c)" rating on shares of CommVault Systems in a report on Wednesday, January 21st. Robert W. Baird cut their price target on CommVault Systems from $185.00 to $160.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. DA Davidson reissued a "buy" rating and issued a $125.00 price target on shares of CommVault Systems in a report on Monday, April 13th. Wall Street Zen cut CommVault Systems from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Mizuho lowered their target price on CommVault Systems from $180.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $135.00.
Read Our Latest Analysis on CommVault Systems
Trending Headlines about CommVault Systems
Here are the key news stories impacting CommVault Systems this week:
- Positive Sentiment: Commvault previously reported better-than-expected quarterly results, including EPS of $1.28 versus $1.09 expected and revenue of $311.69 million versus $306.71 million expected, with revenue up 13.3% year over year. This supports the longer-term fundamental case for the stock.
- Neutral Sentiment: Several company executives sold shares on May 18, but the filings say the sales were made to cover tax withholding obligations tied to vested equity awards, which limits the signal compared with discretionary insider selling.
- Negative Sentiment: A cluster of law firms announced or promoted securities class action lawsuits and investor investigations against Commvault, centered on alleged misstatements about annualized recurring revenue growth. These headlines can increase legal and reputational risk and are the main near-term drag on the stock. Article Title
- Negative Sentiment: The lawsuits also create uncertainty around potential settlement costs, distraction for management, and the possibility of further disclosure-related scrutiny, which may be contributing to the stock’s decline today. Article Title
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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