Insider Selling: Commvault Systems, Inc. (NASDAQ:CVLT) Insider Sells $251,127.47 in Stock

by · The Markets Daily

Commvault Systems, Inc. (NASDAQ:CVLT – Get Free Report) insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $164.89, for a total transaction of $251,127.47. Following the sale, the insider now directly owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. This represents a 1.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

  • On Tuesday, August 27th, Gary Merrill sold 17,388 shares of Commvault Systems stock. The shares were sold at an average price of $150.76, for a total transaction of $2,621,414.88.

Commvault Systems Stock Up 2.3 %

Commvault Systems stock opened at $174.60 on Friday. The firm has a market cap of $7.64 billion, a PE ratio of 44.20 and a beta of 0.59. Commvault Systems, Inc. has a 52-week low of $70.30 and a 52-week high of $178.29. The company’s 50 day moving average is $155.64 and its two-hundred day moving average is $137.42.

Commvault Systems (NASDAQ:CVLT – Get Free Report) last released its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $233.28 million for the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. On average, equities research analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Commvault Systems

A number of hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. increased its position in shares of Commvault Systems by 1.3% in the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock valued at $775,000 after purchasing an additional 79 shares during the last quarter. EFG Asset Management North America Corp. increased its position in shares of Commvault Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after purchasing an additional 103 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Commvault Systems by 1.0% in the 2nd quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after purchasing an additional 138 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Commvault Systems by 5.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after purchasing an additional 139 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Commvault Systems by 5.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock valued at $334,000 after purchasing an additional 153 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CVLT shares. Oppenheimer started coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 target price on the stock. StockNews.com lowered shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. KeyCorp boosted their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, DA Davidson upped their price objective on shares of Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.25.

View Our Latest Stock Analysis on Commvault Systems

About Commvault Systems

(Get Free Report)

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.

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