Gary Merrill Sells 1,854 Shares of CommVault Systems (NASDAQ:CVLT) Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CFO Gary Merrill sold 1,854 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $143.64, for a total transaction of $266,308.56. Following the completion of the sale, the chief financial officer directly owned 70,921 shares in the company, valued at approximately $10,187,092.44. This trade represents a 2.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.

Gary Merrill also recently made the following trade(s):

• On Wednesday, August 19th, Gary Merrill sold 1,293 shares of CommVault Systems stock. The shares were sold at an average price of $142.80, for a total transaction of $184,640.40.
• On Tuesday, May 26th, Gary Merrill sold 4,554 shares of CommVault Systems stock. The shares were sold at an average price of $106.70, for a total value of $485,911.80.
• On Friday, May 22nd, Gary Merrill sold 3,777 shares of CommVault Systems stock. The stock was sold at an average price of $107.39, for a total transaction of $405,612.03.

CommVault Systems Stock Down 4.1%

Shares of CVLT opened at $131.63 on Friday. CommVault Systems, Inc. has a 1 year low of $71.75 and a 1 year high of $198.18. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a 50 day simple moving average of $138.49 and a two-hundred day simple moving average of $109.32. The firm has a market cap of $5.45 billion, a P/E ratio of 83.84 and a beta of 0.81.

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

Analysts Set New Price Targets

A number of research firms have weighed in on CVLT. KeyCorp raised their price objective on shares of CommVault Systems from $125.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Jefferies Financial Group reiterated a “hold” rating and set a $130.00 price target on shares of CommVault Systems in a report on Wednesday, July 29th. Mizuho raised their price target on shares of CommVault Systems from $140.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Wolfe Research began coverage on CommVault Systems in a research report on Friday, May 1st. They issued a “peer perform” rating on the stock. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $130.00 price objective on shares of CommVault Systems in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.47.

CommVault Systems News Roundup

Here are the key news stories impacting CommVault Systems this week:

• Positive Sentiment: Analysts maintain a consensus “Moderate Buy” rating, with an average price target of approximately $152.47. Recent targets include $155 from Stephens and $182 from Truist, although Piper Sandler downgraded the stock to neutral with a $133 target. CommVault Systems Given Consensus Rating of Moderate Buy by Analysts
• Positive Sentiment: Commvault’s latest quarterly results remain a supportive backdrop: earnings of $1.42 per share exceeded estimates by $0.26, revenue reached $314.13 million, and sales increased 11.4% year over year. CommVault Systems financial and analyst information
• Neutral Sentiment: CEO Sanjay Mirchandani sold 24,134 shares worth roughly $3.47 million from August 17–19. CFO Gary Merrill sold 3,147 shares worth about $451,000, while Chief Accounting Officer Danielle Abrahamsen sold 996 shares worth approximately $143,000. All reported sales were tied to tax withholding and left the executives with substantial remaining holdings. CommVault Systems insider buying and selling
• Negative Sentiment: The concentration of insider selling may create short-term supply and sentiment pressure, particularly with CVLT trading below its 50-day moving average and at a high valuation of more than 80 times earnings. Nevertheless, the planned, tax-related nature of the sales reduces the bearish significance.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in CommVault Systems by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,410 shares of the software maker’s stock valued at $23,255,000 after purchasing an additional 11,700 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in CommVault Systems in the second quarter worth about $327,000. Cetera Investment Advisers raised its stake in shares of CommVault Systems by 13.4% in the second quarter. Cetera Investment Advisers now owns 2,486 shares of the software maker’s stock worth $433,000 after buying an additional 294 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of CommVault Systems by 188.3% in the second quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker’s stock worth $47,000 after buying an additional 177 shares during the period. Finally, Guggenheim Capital LLC lifted its position 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 valued at $740,000 after buying an additional 1,293 shares in the last quarter. Hedge funds and other institutional investors 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.