CommVault Systems (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 19,396 Shares

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 19,396 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $105.49, for a total value of $2,046,084.04. Following the completion of the transaction, the chief executive officer directly owned 315,377 shares in the company, valued at $33,269,119.73. The trade was a 5.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 Wednesday, May 20th, Sanjay Mirchandani sold 8,450 shares of CommVault Systems stock. The shares were sold at an average price of $99.13, for a total value of $837,648.50.
• On Monday, May 18th, Sanjay Mirchandani sold 8,457 shares of CommVault Systems stock. The stock was sold at an average price of $104.54, for a total value of $884,094.78.
• On Tuesday, March 17th, Sanjay Mirchandani sold 10,052 shares of CommVault Systems stock. The shares were sold at an average price of $80.09, for a total transaction of $805,064.68.
• On Monday, March 16th, Sanjay Mirchandani sold 10,338 shares of CommVault Systems stock. The stock was sold at an average price of $78.96, for a total value of $816,288.48.

CommVault Systems Price Performance

CommVault Systems stock opened at $106.00 on Friday. The business has a 50 day simple moving average of $89.91 and a 200 day simple moving average of $104.23. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 1.95. CommVault Systems, Inc. has a one year low of $71.75 and a one year high of $200.68. The company has a market capitalization of $4.37 billion, a PE ratio of 66.67 and a beta of 0.77.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. The business had revenue of $311.69 million during the quarter, compared to analysts’ expectations of $306.71 million. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 earnings per share. On average, sell-side analysts forecast that CommVault Systems, Inc. will post 2.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on CVLT. Wolfe Research initiated coverage on CommVault Systems in a research note on Friday, May 1st. They set a “peer perform” rating for the company. Zacks Research cut shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Mizuho cut their price target on CommVault Systems from $180.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Guggenheim decreased their price target on CommVault Systems from $200.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Finally, Wall Street Zen downgraded CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $135.00.

Institutional Trading of CommVault Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in CommVault Systems by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock worth $23,255,000 after purchasing an additional 11,700 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of CommVault Systems in the 2nd quarter worth about $327,000. Cetera Investment Advisers boosted its holdings in shares of CommVault Systems by 13.4% in the 2nd quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock worth $433,000 after purchasing an additional 294 shares in the last quarter. EverSource Wealth Advisors LLC raised 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 worth $47,000 after purchasing an additional 177 shares during the period. Finally, Guggenheim Capital LLC raised its position in CommVault Systems by 43.8% in the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock worth $740,000 after purchasing an additional 1,293 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about CommVault Systems

Here are the key news stories impacting CommVault Systems this week:

• Positive Sentiment: Commvault’s recent quarterly results were strong, with EPS and revenue both beating expectations and revenue rising 13.3% year over year, which can support the stock over time.
• Neutral Sentiment: Several insider sales by the CEO, CFO, and CAO were disclosed, but the company said they were made under pre-arranged 10b5-1 plans and largely to cover tax withholding obligations related to equity awards.
• Negative Sentiment: Multiple law firms issued class action notices and deadline reminders alleging Commvault may have made false or misleading statements to investors, keeping legal risk in focus for Article Title
• Negative Sentiment: One lawsuit notice specifically tied the case to ARR growth problems and a prior sharp share-price decline, reinforcing concerns that guidance and growth expectations may have been too optimistic.

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.