CommVault Systems (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 8,457 Shares of Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 8,457 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $104.54, for a total value of $884,094.78. Following the completion of the sale, the chief executive officer owned 334,773 shares in the company, valued at approximately $34,997,169.42. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 Tuesday, March 17th, Sanjay Mirchandani sold 10,052 shares of CommVault Systems stock. The stock was sold at an average price of $80.09, for a total value 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.
• 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 value of $585,014.40.

CommVault Systems Trading Down 3.8%

Shares of NASDAQ CVLT opened at $101.96 on Wednesday. The company has a debt-to-equity ratio of 117.54, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50 day moving average price is $89.02 and its 200-day moving average price is $104.69. CommVault Systems, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $200.68. 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 (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The firm had revenue of $311.69 million for the quarter, compared to the consensus estimate of $306.71 million. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, sell-side analysts expect that CommVault Systems, Inc. will post 2.86 earnings per share for the current year.

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

Wall Street Analyst Weigh In

CVLT has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of CommVault Systems in a research note on Wednesday, January 21st. William Blair reissued a “market perform” rating on shares of CommVault Systems in a research note on Monday, March 23rd. Jefferies Financial Group initiated coverage on CommVault Systems in a research note on Monday, April 27th. They issued a “hold” rating and a $105.00 price objective on the stock. Loop Capital initiated coverage on CommVault Systems in a research note on Tuesday, March 24th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Wall Street Zen cut CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CVLT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CommVault Systems by 8.6% during 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 in the last quarter. Sivia Capital Partners LLC bought a new stake in CommVault Systems during the 2nd quarter valued at $327,000. Cetera Investment Advisers boosted its position in CommVault Systems by 13.4% during 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 in the last quarter. EverSource Wealth Advisors LLC boosted its position in CommVault Systems by 188.3% during 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 in the last quarter. Finally, Guggenheim Capital LLC boosted its position in 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 acquiring an additional 1,293 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

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.