Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sells $1,985,697.87 in Stock

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 17,949 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $110.63, for a total value of $1,985,697.87. Following the transaction, the chief executive officer now directly owns 514,383 shares in the company, valued at $56,906,191.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

Commvault Systems Price Performance

Shares of NASDAQ:CVLT opened at $110.60 on Friday. The company has a market capitalization of $4.80 billion, a PE ratio of 29.41 and a beta of 0.64. The business has a fifty day moving average price of $102.25 and a two-hundred day moving average price of $89.59. Commvault Systems, Inc. has a 1 year low of $63.70 and a 1 year high of $113.37.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CVLT. Allspring Global Investments Holdings LLC grew its stake in shares of Commvault Systems by 19.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the software maker’s stock worth $2,662,000 after acquiring an additional 6,471 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Commvault Systems by 53.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 32,315 shares of the software maker’s stock worth $2,185,000 after acquiring an additional 11,214 shares during the period. Duality Advisers LP bought a new position in shares of Commvault Systems during the 3rd quarter worth $273,000. Retirement Systems of Alabama grew its stake in shares of Commvault Systems by 7.0% during the 3rd quarter. Retirement Systems of Alabama now owns 276,195 shares of the software maker’s stock worth $18,674,000 after acquiring an additional 18,115 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in shares of Commvault Systems by 2.6% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 222,122 shares of the software maker’s stock worth $15,018,000 after acquiring an additional 5,720 shares during the period. 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.