Insider Selling: Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sells $1,781,107.50 in Stock

Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 10,775 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $165.30, for a total value of $1,781,107.50. Following the sale, the chief executive officer now owns 459,969 shares in the company, valued at $76,032,875.70. The trade was a 2.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Commvault Systems Stock Performance

Shares of NASDAQ CVLT opened at $174.60 on Friday. Commvault Systems, Inc. has a 52-week low of $70.30 and a 52-week high of $178.29. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 44.20 and a beta of 0.59. The stock has a 50 day moving average price of $155.64 and a 200 day moving average price of $137.42.

Commvault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. Analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Analyst Ratings Changes

CVLT has been the topic of several recent analyst reports. DA Davidson increased their target price on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada increased their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Oppenheimer initiated coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 target price for the company. Guggenheim downgraded Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Finally, StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in shares of Commvault Systems in the 3rd quarter worth approximately $774,000. TD Private Client Wealth LLC bought a new position in Commvault Systems in the third quarter worth approximately $105,000. Chiron Investment Management LLC purchased a new stake in Commvault Systems during the third quarter worth $389,000. Vestcor Inc boosted its position in Commvault Systems by 1,552.4% during the 3rd quarter. Vestcor Inc now owns 81,693 shares of the software maker’s stock valued at $12,568,000 after acquiring an additional 76,749 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in shares of Commvault Systems in the 3rd quarter valued at $227,000. 93.50% of the stock is currently owned by institutional investors.

Commvault Systems Company Profile

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.