Gary Merrill Sells 1,293 Shares of CommVault Systems (NASDAQ:CVLT) Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CFO Gary Merrill sold 1,293 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $142.80, for a total transaction of $184,640.40. Following the completion of the sale, the chief financial officer directly owned 69,628 shares in the company, valued at $9,942,878.40. This represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.

Gary Merrill also recently made the following trade(s):

• On Tuesday, August 18th, Gary Merrill sold 1,854 shares of CommVault Systems stock. The shares were sold at an average price of $143.64, for a total transaction of $266,308.56.
• On Tuesday, May 26th, Gary Merrill sold 4,554 shares of CommVault Systems stock. The stock was sold at an average price of $106.70, for a total transaction of $485,911.80.
• On Friday, May 22nd, Gary Merrill sold 3,777 shares of CommVault Systems stock. The stock was sold at an average price of $107.39, for a total transaction of $405,612.03.

CommVault Systems Stock Down 4.1%

Shares of CVLT opened at $131.63 on Friday. The firm has a market cap of $5.45 billion, a PE ratio of 83.84 and a beta of 0.81. The company’s fifty day moving average is $138.49 and its two-hundred day moving average is $109.32. CommVault Systems, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $198.18. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.26. The company had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $310.43 million. CommVault Systems had a net margin of 5.62% and a return on equity of 88.75%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 EPS. Analysts forecast that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.

Institutional Trading of CommVault Systems

Large investors have recently modified their holdings of the business. Boston Trust Walden Corp purchased a new stake in CommVault Systems during the 4th quarter worth approximately $30,830,000. Intech Investment Management LLC raised its position in shares of CommVault Systems by 52.4% in the 4th quarter. Intech Investment Management LLC now owns 86,634 shares of the software maker’s stock valued at $10,860,000 after purchasing an additional 29,796 shares in the last quarter. Epoch Investment Partners Inc. purchased a new position in shares of CommVault Systems during the 4th quarter valued at approximately $27,278,000. Madison Asset Management LLC boosted its stake in shares of CommVault Systems by 39.7% during the 1st quarter. Madison Asset Management LLC now owns 33,459 shares of the software maker’s stock valued at $2,606,000 after buying an additional 9,512 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of CommVault Systems by 410.8% during the fourth quarter. BNP Paribas Financial Markets now owns 320,468 shares of the software maker’s stock worth $40,174,000 after buying an additional 257,729 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

More CommVault Systems News

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

• Positive Sentiment: Analysts maintain a consensus “Moderate Buy” rating, with an average price target of approximately $152.47. Recent targets include $155 from Stephens and $182 from Truist, although Piper Sandler downgraded the stock to neutral with a $133 target. CommVault Systems Given Consensus Rating of Moderate Buy by Analysts
• Positive Sentiment: Commvault’s latest quarterly results remain a supportive backdrop: earnings of $1.42 per share exceeded estimates by $0.26, revenue reached $314.13 million, and sales increased 11.4% year over year. CommVault Systems financial and analyst information
• Neutral Sentiment: CEO Sanjay Mirchandani sold 24,134 shares worth roughly $3.47 million from August 17–19. CFO Gary Merrill sold 3,147 shares worth about $451,000, while Chief Accounting Officer Danielle Abrahamsen sold 996 shares worth approximately $143,000. All reported sales were tied to tax withholding and left the executives with substantial remaining holdings. CommVault Systems insider buying and selling
• Negative Sentiment: The concentration of insider selling may create short-term supply and sentiment pressure, particularly with CVLT trading below its 50-day moving average and at a high valuation of more than 80 times earnings. Nevertheless, the planned, tax-related nature of the sales reduces the bearish significance.

Analyst Ratings Changes

Several equities research analysts have commented on CVLT shares. Royal Bank Of Canada upped their price target on CommVault Systems from $100.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Scotiabank reaffirmed a “sector perform” rating and issued a $130.00 price objective on shares of CommVault Systems in a research note on Wednesday, July 29th. UBS Group reiterated a “neutral” rating on shares of CommVault Systems in a report on Monday, July 27th. Piper Sandler downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 target price for the company. in a research report on Tuesday, July 28th. Finally, KeyCorp raised their price target on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $152.47.

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.