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

Commvault Systems, Inc. (NASDAQ:CVLT) insider Gary Merrill sold 1,523 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $164.89, for a total transaction of $251,127.47. Following the transaction, the insider now owns 93,007 shares of the company’s stock, valued at approximately $15,335,924.23. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 1.4 %

Commvault Systems stock opened at $170.96 on Thursday. The company has a market capitalization of $7.48 billion, a P/E ratio of 43.28 and a beta of 0.59. The firm has a 50 day moving average price of $154.65 and a 200-day moving average price of $136.95. Commvault Systems, Inc. has a twelve month low of $69.71 and a twelve month high of $178.29.

Commvault Systems (NASDAQ:CVLT) 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. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. The business had revenue of $233.28 million during the quarter, compared to the consensus estimate of $220.76 million. During the same period last year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts expect that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Commvault Systems

Several institutional investors have recently added to or reduced their stakes in CVLT. Xponance Inc. increased its stake in shares of Commvault Systems by 1.3% in the second quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock worth $775,000 after purchasing an additional 79 shares in the last quarter. EFG Asset Management North America Corp. boosted its holdings in 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 worth $2,637,000 after buying an additional 103 shares during the period. Natixis Advisors LLC grew its stake in 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 buying an additional 138 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Commvault Systems by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock valued at $328,000 after acquiring an additional 139 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of Commvault Systems by 5.9% during the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after acquiring an additional 153 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVLT has been the topic of a number of recent analyst reports. StockNews.com downgraded Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their target price on shares of 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 shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price objective on the stock. DA Davidson boosted their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, KeyCorp raised their price objective on Commvault Systems from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.