Commvault Systems, Inc. (NASDAQ:CVLT) Insider Gary Merrill Sells 1,523 Shares

Commvault Systems, Inc. (NASDAQ:CVLT) insider Gary Merrill sold 1,523 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $164.89, for a total value of $251,127.47. Following the completion of the transaction, the insider now owns 93,007 shares of the company’s stock, valued at $15,335,924.23. The trade was a 1.61 % decrease in their ownership of the stock. 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 stock was sold at an average price of $150.76, for a total transaction of $2,621,414.88.

Commvault Systems Price Performance

Shares of NASDAQ CVLT opened at $170.96 on Thursday. Commvault Systems, Inc. has a one year low of $69.71 and a one year high of $178.29. The stock’s fifty day moving average price is $154.65 and its two-hundred day moving average price is $136.95. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 43.28 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million during the quarter, compared to analysts’ expectations of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. Commvault Systems’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. On average, equities analysts anticipate that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

Institutional Trading of Commvault Systems

A number of hedge funds and other institutional investors have recently modified their holdings of CVLT. Vanguard Group Inc. increased its position in Commvault Systems by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock valued at $561,081,000 after acquiring an additional 43,333 shares during the period. Renaissance Technologies LLC increased its holdings in Commvault Systems by 7.5% in the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after purchasing an additional 126,800 shares during the period. Acadian Asset Management LLC increased its holdings in Commvault Systems by 0.3% in the second quarter. Acadian Asset Management LLC now owns 1,601,057 shares of the software maker’s stock valued at $194,606,000 after purchasing an additional 4,422 shares during the period. State Street Corp raised its position in Commvault Systems by 1.6% during the 3rd quarter. State Street Corp now owns 1,594,045 shares of the software maker’s stock worth $245,244,000 after purchasing an additional 25,082 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Commvault Systems by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after buying an additional 162,722 shares during the period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. DA Davidson raised their price target on shares of Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price objective on Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Oppenheimer assumed coverage on Commvault Systems in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Guggenheim lowered shares of Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. Finally, StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.25.

About Commvault Systems

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.