Traders Purchase Large Volume of Put Options on Commvault Systems (NASDAQ:CVLT)

Commvault Systems, Inc. (NASDAQ:CVLT) was the recipient of some unusual options trading activity on Monday. Traders acquired 2,192 put options on the stock. This represents an increase of approximately 1,253% compared to the typical volume of 162 put options.

Several research firms have recently issued reports on CVLT. Summit Insights lifted their price objective on shares of Commvault Systems from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Zacks Investment Research cut shares of Commvault Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 2nd. KeyCorp lifted their price objective on shares of Commvault Systems from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, July 22nd. Finally, Needham & Company LLC started coverage on shares of Commvault Systems in a research report on Monday, September 13th. They set a “buy” rating and a $95.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Commvault Systems currently has an average rating of “Buy” and a consensus target price of $81.88.

Shares of CVLT opened at $73.54 on Wednesday. The stock has a market cap of $3.37 billion, a PE ratio of -167.14, a price-to-earnings-growth ratio of 6.51 and a beta of 0.68. Commvault Systems has a 1-year low of $38.90 and a 1-year high of $84.22. The firm has a fifty day moving average price of $77.69 and a 200 day moving average price of $73.85.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Monday, July 26th. The software maker reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. The company had revenue of $183.40 million for the quarter, compared to analyst estimates of $181.71 million. Commvault Systems had a negative net margin of 2.64% and a positive return on equity of 10.41%. Commvault Systems’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share. On average, analysts anticipate that Commvault Systems will post 1.2 earnings per share for the current fiscal year.

In other Commvault Systems news, CFO Brian Carolan sold 8,055 shares of the firm’s stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $81.90, for a total value of $659,704.50. Following the completion of the transaction, the chief financial officer now owns 113,329 shares of the company’s stock, valued at approximately $9,281,645.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Merrill sold 3,991 shares of the firm’s stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $74.93, for a total transaction of $299,045.63. The disclosure for this sale can be found here. Insiders sold a total of 33,816 shares of company stock valued at $2,637,373 in the last quarter. 0.99% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank acquired a new position in Commvault Systems in the second quarter valued at $42,000. Dark Forest Capital Management LP acquired a new position in Commvault Systems in the second quarter valued at $42,000. Eudaimonia Partners LLC acquired a new position in Commvault Systems in the first quarter valued at $43,000. Altshuler Shaham Ltd acquired a new position in shares of Commvault Systems during the first quarter worth about $65,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Commvault Systems during the first quarter worth about $77,000. Institutional investors own 92.95% of the company’s stock.

Commvault Systems Company Profile

Commvault Systems, Inc engages in the provision of data protection and information management software applications and related services. It products category include Data Protection, Data insights, Storage, and Metallic BaaS. The firm also offers professional, managed, support, and training services.

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