CommVault Systems (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 8,450 Shares of Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 8,450 shares of CommVault Systems stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $99.13, for a total value of $837,648.50. Following the completion of the sale, the chief executive officer owned 306,927 shares in the company, valued at approximately $30,425,673.51. This represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through 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.

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

• On Tuesday, May 19th, Sanjay Mirchandani sold 19,396 shares of CommVault Systems stock. The shares were sold at an average price of $105.49, for a total transaction of $2,046,084.04.
• On Monday, May 18th, Sanjay Mirchandani sold 8,457 shares of CommVault Systems stock. The shares were sold at an average price of $104.54, for a total transaction 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 shares were sold at an average price of $78.96, for a total transaction of $816,288.48.

CommVault Systems Trading Up 1.4%

Shares of CVLT opened at $106.00 on Friday. The firm’s 50-day moving average price is $89.91 and its 200-day moving average price is $104.23. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 66.67 and a beta of 0.77. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 117.54. CommVault Systems, Inc. has a 1-year low of $71.75 and a 1-year high of $200.68.

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

Wall Street Analysts Forecast Growth

CVLT has been the topic of several research reports. Guggenheim dropped 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. Cantor Fitzgerald dropped their price target on CommVault Systems from $144.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 28th. Wolfe Research assumed coverage on shares of CommVault Systems in a research note on Friday, May 1st. They set a “peer perform” rating on the stock. Wells Fargo & Company dropped their price objective on shares of CommVault Systems from $190.00 to $155.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Finally, Wall Street Zen lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.00.

Institutional Investors Weigh In On CommVault Systems

Several hedge funds have recently added to or reduced their stakes in CVLT. Tudor Investment Corp ET AL bought a new stake in CommVault Systems in the third quarter worth $1,887,800,000. First Trust Advisors LP boosted its holdings in CommVault Systems by 1,335.8% in the third quarter. First Trust Advisors LP now owns 1,224,856 shares of the software maker’s stock worth $231,228,000 after acquiring an additional 1,139,547 shares in the last quarter. M&T Bank Corp boosted its holdings in CommVault Systems by 22,133.9% in the fourth quarter. M&T Bank Corp now owns 610,098 shares of the software maker’s stock worth $76,482,000 after acquiring an additional 607,354 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in CommVault Systems by 135.6% in the third quarter. Westfield Capital Management Co. LP now owns 786,175 shares of the software maker’s stock worth $148,414,000 after acquiring an additional 452,422 shares in the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of CommVault Systems by 14,047.5% in the fourth quarter. TD Asset Management Inc now owns 381,982 shares of the software maker’s stock worth $47,885,000 after buying an additional 379,282 shares in the last quarter. 93.50% of the stock is owned by 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.