Commvault Systems, Inc. (NASDAQ:CVLT) CAO James J. Whalen Sells 334 Shares

Posted by Defense World Staff on Aug 22nd, 2023

Commvault Systems, Inc. (NASDAQ:CVLT – Get Free Report) CAO James J. Whalen sold 334 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $69.61, for a total value of $23,249.74. Following the completion of the sale, the chief accounting officer now owns 19,625 shares of the company’s stock, valued at approximately $1,366,096.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Commvault Systems Price Performance

NASDAQ CVLT opened at $68.35 on Tuesday. Commvault Systems, Inc. has a fifty-two week low of $50.26 and a fifty-two week high of $78.80. The stock’s 50-day moving average is $72.54 and its two-hundred day moving average is $65.33. The firm has a market cap of $3.00 billion, a P/E ratio of -112.05 and a beta of 0.60.

Commvault Systems (NASDAQ:CVLT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.07. The company had revenue of $198.15 million for the quarter, compared to the consensus estimate of $197.43 million. Commvault Systems had a positive return on equity of 17.69% and a negative net margin of 3.40%. On average, equities analysts expect that Commvault Systems, Inc. will post 1.24 EPS for the current year.

Institutional Investors Weigh In On Commvault Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ontario Teachers Pension Plan Board grew its position in shares of Commvault Systems by 17.4% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 21,054 shares of the software maker’s stock valued at $1,323,000 after purchasing an additional 3,118 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Commvault Systems by 81.1% in the fourth quarter. Parallel Advisors LLC now owns 1,552 shares of the software maker’s stock valued at $98,000 after purchasing an additional 695 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Commvault Systems by 75.8% in the fourth quarter. SG Americas Securities LLC now owns 14,202 shares of the software maker’s stock valued at $892,000 after purchasing an additional 6,124 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Commvault Systems by 7.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 38,126 shares of the software maker’s stock valued at $2,163,000 after purchasing an additional 2,688 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Commvault Systems by 6.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 73,764 shares of the software maker’s stock worth $4,185,000 after buying an additional 4,754 shares in the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. DA Davidson assumed coverage on Commvault Systems in a report on Wednesday, August 16th. They issued a “buy” rating and a $85.00 target price for the company. Lake Street Capital increased their target price on Commvault Systems from $62.00 to $72.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Piper Sandler increased their target price on Commvault Systems from $60.00 to $65.00 in a report on Wednesday, May 3rd. Royal Bank of Canada increased their price objective on Commvault Systems from $68.00 to $80.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 2nd. Finally, 51job reiterated a “maintains” rating on shares of Commvault Systems in a report on Wednesday, May 3rd. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Commvault Systems presently has a consensus rating of “Moderate Buy” and an average price target of $77.60.

Check Out Our Latest Stock Report on Commvault Systems

Commvault Systems Company Profile

(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.