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 stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the sale, the director now directly owns 5,899 shares in the company, valued at $1,017,577.50. This trade represents a 17.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Commvault Systems Trading Up 2.6 %

Shares of NASDAQ CVLT opened at $174.75 on Thursday. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 44.24 and a beta of 0.61. Commvault Systems, Inc. has a 1-year low of $73.33 and a 1-year high of $178.72. The stock’s 50-day moving average is $159.61 and its 200 day moving average is $141.58.

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

Hedge Funds Weigh In On Commvault Systems

Several institutional investors and hedge funds have recently bought and sold shares of CVLT. Summit Partners Public Asset Management LLC bought a new position in Commvault Systems during the 3rd quarter worth approximately $67,722,000. AQR Capital Management LLC grew its position 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 acquiring an additional 162,722 shares during the last quarter. Renaissance Technologies LLC grew its position in Commvault Systems by 7.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock worth $220,466,000 after acquiring an additional 126,800 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Commvault Systems by 25.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock worth $90,278,000 after acquiring an additional 120,779 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in Commvault Systems by 29.4% during the 3rd quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock worth $75,719,000 after acquiring an additional 111,715 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CVLT shares. DA Davidson increased their price objective on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Guggenheim cut Commvault Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, October 15th. Royal Bank of Canada increased their price objective on Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. StockNews.com cut Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Finally, Oppenheimer assumed coverage on Commvault Systems in a report on Wednesday, November 13th. They issued an “outperform” rating and a $200.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have issued 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 target price of $151.25.

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.