Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report) CEO Sanjay Mirchandani sold 1,709 shares of Commvault Systems stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the sale, the chief executive officer now directly owns 469,648 shares of the company's stock, valued at approximately $82,188,400. This represents a 0.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Commvault Systems Stock Up 3.1%
Shares of NASDAQ CVLT traded up $5.49 during midday trading on Friday, reaching $182.86. 949,997 shares of the stock were exchanged, compared to its average volume of 424,328. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 47.99 and a beta of 0.71. The firm has a 50-day simple moving average of $164.30 and a two-hundred day simple moving average of $165.14. Commvault Systems, Inc. has a twelve month low of $105.76 and a twelve month high of $190.11.
Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, beating the consensus estimate of $0.93 by $0.10. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The company had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. During the same quarter last year, the business earned $0.79 earnings per share. The firm's revenue was up 23.2% on a year-over-year basis. Research analysts expect that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.
Institutional Investors Weigh In On Commvault Systems
Several hedge funds have recently modified their holdings of CVLT. Nisa Investment Advisors LLC raised its holdings in Commvault Systems by 3.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the software maker's stock worth $296,000 after purchasing an additional 66 shares during the period. Blue Trust Inc. increased its position in shares of Commvault Systems by 38,400.0% in the fourth quarter. Blue Trust Inc. now owns 770 shares of the software maker's stock valued at $118,000 after buying an additional 768 shares in the last quarter. KBC Group NV raised its stake in shares of Commvault Systems by 60.4% during the 4th quarter. KBC Group NV now owns 1,816 shares of the software maker's stock worth $274,000 after buying an additional 684 shares during the period. Pacer Advisors Inc. lifted its position in shares of Commvault Systems by 42.1% during the 4th quarter. Pacer Advisors Inc. now owns 10,315 shares of the software maker's stock valued at $1,557,000 after buying an additional 3,054 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its position in shares of Commvault Systems by 50.1% during the 4th quarter. SteelPeak Wealth LLC now owns 4,405 shares of the software maker's stock valued at $665,000 after buying an additional 1,470 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Commvault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Piper Sandler reduced their price target on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Wall Street Zen upgraded shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Oppenheimer increased their price objective on shares of Commvault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, KeyCorp reduced their target price on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Commvault Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.25.
View Our Latest Research Report on CVLT
About Commvault Systems
(
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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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