Insider Selling: Commvault Systems, Inc. (NASDAQ:CVLT) Director Sells 1,232 Shares of Stock

Commvault Systems, Inc. (NASDAQ:CVLT) Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the transaction, the director now owns 5,899 shares in the company, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Commvault Systems Trading Down 0.3 %

CVLT opened at $170.39 on Wednesday. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 43.14 and a beta of 0.61. The stock has a fifty day simple moving average of $159.15 and a two-hundred day simple moving average of $141.35. Commvault Systems, Inc. has a 12-month low of $73.33 and a 12-month high of $178.72.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company 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% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. On average, analysts predict that Commvault Systems, Inc. will post 1.66 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVLT. Xponance Inc. grew 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 acquiring an additional 79 shares during the last quarter. EFG Asset Management North America Corp. increased its stake in Commvault Systems by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after purchasing an additional 103 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Commvault Systems by 1.0% during the second 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 during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Commvault Systems by 5.4% during the second 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 in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Commvault Systems by 5.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock worth $334,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

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.