Gary Merrill Sells 661 Shares of Commvault Systems, Inc. (NASDAQ:CVLT) Stock

Commvault Systems, Inc. (NASDAQ:CVLT) CFO Gary Merrill sold 661 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $110.58, for a total transaction of $73,093.38. Following the completion of the transaction, the chief financial officer now owns 114,373 shares in the company, valued at approximately $12,647,366.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, May 20th, Gary Merrill sold 5,691 shares of Commvault Systems stock. The stock was sold at an average price of $110.60, for a total transaction of $629,424.60.
• 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 shares were sold at an average price of $97.25, for a total value of $79,939.50.

Commvault Systems Price Performance

NASDAQ:CVLT opened at $110.60 on Friday. Commvault Systems, Inc. has a one year low of $63.70 and a one year high of $113.37. The company has a market cap of $4.80 billion, a PE ratio of 29.41 and a beta of 0.64. The firm has a 50-day moving average of $102.25 and a 200-day moving average of $89.73.

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

Hedge Funds Weigh In On Commvault Systems

Hedge funds have recently bought and sold shares of the company. Daiwa Securities Group Inc. lifted its position in shares of Commvault Systems by 700.0% during the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the software maker’s stock valued at $81,000 after purchasing an additional 700 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Commvault Systems in the 4th quarter worth approximately $67,000. EntryPoint Capital LLC grew its holdings in shares of Commvault Systems by 123.9% in the first quarter. EntryPoint Capital LLC now owns 1,263 shares of the software maker’s stock valued at $128,000 after acquiring an additional 699 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Commvault Systems by 28.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,429 shares of the software maker’s stock valued at $97,000 after acquiring an additional 317 shares during the last quarter. Finally, Ulland Investment Advisors LLC bought a new stake in Commvault Systems during the first quarter worth $180,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVLT has been the subject of a number of research analyst reports. Lake Street Capital lifted their target price on Commvault Systems from $86.00 to $98.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. KeyCorp boosted their target price on shares of Commvault Systems from $109.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. DA Davidson raised their price target on shares of Commvault Systems from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Wells Fargo & Company upped their price objective on shares of Commvault Systems from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Finally, Royal Bank of Canada boosted their target price 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. Two equities 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 data from MarketBeat.com, Commvault Systems currently has an average rating of “Moderate Buy” and a consensus target price 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.