Commvault Systems, Inc. (NASDAQ:CVLT) Insider Gary Merrill Sells 1,748 Shares

Commvault Systems, Inc. (NASDAQ:CVLT) insider Gary Merrill sold 1,748 shares of Commvault Systems stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total transaction of $305,742.68. Following the transaction, the insider now owns 89,923 shares in the company, valued at $15,728,431.93. The trade was a 1.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Commvault Systems Stock Performance

NASDAQ:CVLT opened at $176.80 on Thursday. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 46.40 and a beta of 0.71. Commvault Systems, Inc. has a one year low of $105.76 and a one year high of $190.11. The business’s 50-day simple moving average is $164.14 and its 200 day simple moving average is $165.11.

Commvault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. Commvault Systems’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 EPS. On average, equities research analysts predict that Commvault Systems, Inc. will post 1.65 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on CVLT. Wall Street Zen raised Commvault Systems from a “hold” rating to a “buy” rating in a research report on Thursday, May 1st. William Blair upgraded Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company raised their target price on Commvault Systems from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Royal Bank of Canada upped their price target on Commvault Systems from $175.00 to $185.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 30th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $175.25.

Institutional Trading of Commvault Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP grew its holdings in Commvault Systems by 888.2% during the 4th quarter. Quarry LP now owns 168 shares of the software maker’s stock worth $25,000 after acquiring an additional 151 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Commvault Systems by 101.3% during the first quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker’s stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Whipplewood Advisors LLC lifted its position in shares of Commvault Systems by 584.0% during the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker’s stock worth $27,000 after purchasing an additional 146 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Commvault Systems in the first quarter worth about $27,000. Finally, Brooklyn Investment Group increased its holdings in Commvault Systems by 8,550.0% in the first quarter. Brooklyn Investment Group now owns 173 shares of the software maker’s stock valued at $27,000 after buying an additional 171 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

About Commvault Systems

Commvault Systems, Inc provides data protection platform that helps customers to secure, defend, and recover their data in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, a replication and disaster recovery solution; Commvault Complete Data Protection, a data protection solution; and Metallic Data Protection as-a-service, which delivers enterprise-grade data protection as a service on a cloud platform, with advanced built-in security controls.