Commvault Systems, Inc. (NASDAQ:CVLT) CFO Gary Merrill Sells 5,691 Shares

Commvault Systems, Inc. (NASDAQ:CVLT - Get Free Report) CFO Gary Merrill sold 5,691 shares of the company's stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $110.60, for a total value of $629,424.60. Following the completion of the transaction, the chief financial officer now owns 117,811 shares in the company, valued at $13,029,896.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, May 16th, Gary Merrill sold 6,040 shares of Commvault Systems stock. The stock was sold at an average price of $110.20, for a total value of $665,608.00.
• On Monday, March 4th, Gary Merrill sold 822 shares of Commvault Systems stock. The stock was sold at an average price of $97.25, for a total value of $79,939.50.

Commvault Systems Stock Performance

CVLT traded down $0.67 on Wednesday, hitting $110.03. 234,319 shares of the company were exchanged, compared to its average volume of 312,801. The firm has a fifty day simple moving average of $101.57 and a two-hundred day simple moving average of $89.00. Commvault Systems, Inc. has a 12 month low of $63.70 and a 12 month high of $113.37. The stock has a market capitalization of $4.78 billion, a PE ratio of 29.26 and a beta of 0.64.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.10. Commvault Systems had a return on equity of 31.27% and a net margin of 20.13%. The business had revenue of $223.29 million for the quarter, compared to analyst estimates of $213.00 million. On average, equities analysts expect that Commvault Systems, Inc. will post 1.7 earnings per share for the current year.

Institutional Investors Weigh In On Commvault Systems

Several institutional investors and hedge funds have recently bought and sold shares of CVLT. Champlain Investment Partners LLC lifted its holdings in Commvault Systems by 58.5% in the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker's stock worth $83,704,000 after buying an additional 304,459 shares during the period. Norges Bank purchased a new stake in Commvault Systems in the 4th quarter worth approximately $24,134,000. Acadian Asset Management LLC lifted its holdings in Commvault Systems by 16.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker's stock worth $161,914,000 after buying an additional 223,347 shares during the period. Invesco Ltd. lifted its holdings in Commvault Systems by 50.9% in the 3rd quarter. Invesco Ltd. now owns 629,282 shares of the software maker's stock worth $42,546,000 after buying an additional 212,325 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Commvault Systems by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,426,814 shares of the software maker's stock worth $366,907,000 after buying an additional 144,625 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CVLT shares. KeyCorp upped their target price on Commvault Systems from $109.00 to $122.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their price objective on Commvault Systems from $125.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, May 16th. DA Davidson increased their price objective on Commvault Systems from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, May 1st. Royal Bank of Canada increased their price objective on Commvault Systems from $97.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 1st. Finally, Lake Street Capital increased their price objective on Commvault Systems from $86.00 to $98.00 and gave the company a "hold" rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Commvault Systems has an average rating of "Moderate Buy" and a consensus price target of $119.40.

Commvault Systems Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.