Commvault Systems, Inc. (NASDAQ:CVLT) CEO Sanjay Mirchandani Sells 16,141 Shares

Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) CEO Sanjay Mirchandani sold 16,141 shares of Commvault Systems stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $61.46, for a total transaction of $992,025.86. Following the completion of the transaction, the chief executive officer now directly owns 494,283 shares of the company’s stock, valued at approximately $30,378,633.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of Commvault Systems stock traded down $2.97 during midday trading on Wednesday, hitting $58.52. 245,420 shares of the company traded hands, compared to its average volume of 263,648. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 86.61, a PEG ratio of 5.84 and a beta of 0.66. The firm’s fifty day moving average price is $63.20 and its 200-day moving average price is $65.06. Commvault Systems, Inc. has a 12 month low of $55.72 and a 12 month high of $84.22.

Commvault Systems (NASDAQ:CVLT – Get Rating) last posted its earnings results on Tuesday, May 3rd. The software maker reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.11. Commvault Systems had a net margin of 4.37% and a return on equity of 15.55%. The firm had revenue of $205.95 million for the quarter, compared to analyst estimates of $201.98 million. During the same period in the previous year, the firm posted $0.25 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts predict that Commvault Systems, Inc. will post 1.01 earnings per share for the current year.

A number of analysts have recently issued reports on CVLT shares. Lake Street Capital raised their target price on shares of Commvault Systems from $64.00 to $68.00 in a research note on Wednesday, January 26th. StockNews.com started coverage on shares of Commvault Systems in a research note on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, Royal Bank of Canada raised their target price on shares of Commvault Systems from $66.00 to $75.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 26th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $80.33.

A number of institutional investors and hedge funds have recently bought and sold shares of CVLT. Exchange Traded Concepts LLC bought a new stake in Commvault Systems during the 1st quarter worth approximately $29,000. Huntington National Bank lifted its position in shares of Commvault Systems by 33.4% in the 4th quarter. Huntington National Bank now owns 943 shares of the software maker’s stock worth $65,000 after purchasing an additional 236 shares during the period. Lazard Asset Management LLC lifted its position in shares of Commvault Systems by 63.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,321 shares of the software maker’s stock worth $87,000 after purchasing an additional 511 shares during the period. Gladius Capital Management LP acquired a new position in shares of Commvault Systems in the 4th quarter worth approximately $125,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Commvault Systems in the 3rd quarter worth approximately $166,000. 95.69% of the stock is currently owned by hedge funds and other institutional investors.

Commvault Systems Company Profile (Get Rating)

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, an easy-to-use replication and disaster recovery solution; and Commvault Complete Data Protection, an easy-to-use data protection solution.

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