Sanjay Mirchandani Sells 10,052 Shares of CommVault Systems (NASDAQ:CVLT) Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani sold 10,052 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $80.09, for a total value of $805,064.68. Following the completion of the sale, the chief executive officer owned 332,529 shares of the company’s stock, valued at $26,632,247.61. The trade was a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, March 16th, Sanjay Mirchandani sold 10,338 shares of CommVault Systems stock. The stock was sold at an average price of $78.96, for a total value of $816,288.48.
• On Wednesday, February 18th, Sanjay Mirchandani sold 6,480 shares of CommVault Systems stock. The stock was sold at an average price of $90.28, for a total value of $585,014.40.

CommVault Systems Trading Down 0.9%

Shares of NASDAQ CVLT opened at $79.80 on Friday. CommVault Systems, Inc. has a twelve month low of $77.79 and a twelve month high of $200.68. The firm has a market cap of $3.51 billion, a PE ratio of 41.13 and a beta of 0.59. The business has a fifty day simple moving average of $94.79 and a two-hundred day simple moving average of $130.81. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 4.06.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.19. The business had revenue of $313.83 million for the quarter, compared to the consensus estimate of $299.07 million. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 EPS. Analysts expect that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CommVault Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVLT. State of Wyoming purchased a new stake in shares of CommVault Systems during the second quarter valued at about $35,000. FNY Investment Advisers LLC bought a new stake in shares of CommVault Systems in the 4th quarter valued at about $36,000. Banque Cantonale Vaudoise purchased a new position in shares of CommVault Systems in the 3rd quarter worth approximately $39,000. Assetmark Inc. grew its position in shares of CommVault Systems by 33.6% in the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker’s stock worth $41,000 after buying an additional 82 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in shares of CommVault Systems by 43.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock worth $46,000 after acquiring an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVLT. Guggenheim dropped their target price on shares of CommVault Systems from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Royal Bank Of Canada lowered their price target on shares of CommVault Systems from $167.00 to $100.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 28th. 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. Cantor Fitzgerald cut their price objective on shares of CommVault Systems from $144.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CommVault Systems in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.75.

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.