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Gary Merrill Sells 1,748 Shares of Commvault Systems, Inc. (NASDAQ:CVLT) Stock

Commvault Systems logo with Computer and Technology background

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report) insider Gary Merrill sold 1,748 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the sale, the insider now owns 89,923 shares of the company's stock, valued at $15,728,431.93. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Commvault Systems Stock Performance

Shares of NASDAQ:CVLT traded up $5.49 during trading on Friday, hitting $182.86. 950,030 shares of the stock were exchanged, compared to its average volume of 425,026. The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 47.99 and a beta of 0.71. Commvault Systems, Inc. has a 1-year low of $107.12 and a 1-year high of $190.11. The company's fifty day simple moving average is $164.48 and its 200-day simple moving average is $165.11.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. The business had revenue of $275.04 million during the quarter, compared to the consensus estimate of $262.52 million. Commvault Systems had a return on equity of 28.69% and a net margin of 18.14%. Commvault Systems's revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company earned $0.79 EPS. On average, research analysts forecast that Commvault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Commvault Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Commvault Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,636,559 shares of the software maker's stock valued at $850,613,000 after purchasing an additional 54,562 shares during the last quarter. Renaissance Technologies LLC raised its position in Commvault Systems by 1.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,909,185 shares of the software maker's stock valued at $288,115,000 after purchasing an additional 24,900 shares during the last quarter. Invesco Ltd. raised its position in Commvault Systems by 7.1% in the 1st quarter. Invesco Ltd. now owns 1,777,307 shares of the software maker's stock valued at $280,388,000 after purchasing an additional 117,199 shares during the last quarter. Acadian Asset Management LLC raised its position in Commvault Systems by 2.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,505,357 shares of the software maker's stock valued at $237,454,000 after purchasing an additional 43,075 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Commvault Systems by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,288,068 shares of the software maker's stock valued at $194,681,000 after purchasing an additional 43,088 shares during the last quarter. Institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on CVLT. Oppenheimer raised their target price on Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. DA Davidson raised their target price on Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Piper Sandler dropped their target price on Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada raised their target price on Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded Commvault Systems from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Commvault Systems presently has an average rating of "Moderate Buy" and an average target price of $175.25.

Read Our Latest Stock Report on CVLT

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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