CommVault Systems (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 4,840 Shares of Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 4,840 shares of CommVault Systems stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $143.64, for a total transaction of $695,217.60. Following the sale, the chief executive officer owned 264,533 shares of the company’s stock, valued at approximately $37,997,520.12. This represents a 1.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Wednesday, August 19th, Sanjay Mirchandani sold 6,857 shares of CommVault Systems stock. The stock was sold at an average price of $142.80, for a total value of $979,179.60.
• On Monday, August 17th, Sanjay Mirchandani sold 12,437 shares of CommVault Systems stock. The stock was sold at an average price of $143.98, for a total transaction of $1,790,679.26.

CommVault Systems Trading Down 3.8%

CommVault Systems stock traded down $5.49 during mid-day trading on Wednesday, hitting $137.32. 449,257 shares of the company’s stock were exchanged, compared to its average volume of 935,905. The company’s 50 day simple moving average is $138.16 and its 200-day simple moving average is $108.64. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 16.94. The firm has a market capitalization of $5.69 billion, a P/E ratio of 87.46 and a beta of 0.81. CommVault Systems, Inc. has a fifty-two week low of $71.75 and a fifty-two week high of $198.18.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.26. CommVault Systems had a return on equity of 88.75% and a net margin of 5.62%.The company had revenue of $314.13 million for the quarter, compared to analyst estimates of $310.43 million. During the same quarter last year, the firm posted $1.01 earnings per share. CommVault Systems’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts anticipate that CommVault Systems, Inc. will post 2.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CVLT shares. KeyCorp increased their price objective on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Jefferies Financial Group restated a “hold” rating and issued a $130.00 target price on shares of CommVault Systems in a research report on Wednesday, July 29th. Wolfe Research assumed coverage on shares of CommVault Systems in a research note on Friday, May 1st. They issued a “peer perform” rating on the stock. Piper Sandler lowered CommVault Systems from an “overweight” rating to a “neutral” rating and set a $133.00 price objective on the stock. in a research report on Tuesday, July 28th. Finally, Zacks Research lowered shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $152.47.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 worth $23,255,000 after acquiring an additional 11,700 shares during the period. Sivia Capital Partners LLC bought a new stake in CommVault Systems in the second quarter worth approximately $327,000. Cetera Investment Advisers lifted its stake in CommVault Systems by 13.4% in the second quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock valued at $433,000 after buying an additional 294 shares during the period. EverSource Wealth Advisors LLC lifted its stake in CommVault Systems by 188.3% in the second quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock valued at $47,000 after buying an additional 177 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in shares of CommVault Systems by 43.8% during the 2nd quarter. Guggenheim Capital LLC now owns 4,245 shares of the software maker’s stock worth $740,000 after buying an additional 1,293 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

CommVault Systems Company Profile

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.