Brian Carolan Sells 9,106 Shares of Commvault (CVLT) Stock

Commvault (NASDAQ:CVLT) VP Brian Carolan sold 9,106 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $65.10, for a total transaction of $592,800.60. Following the transaction, the vice president now directly owns 86,570 shares of the company’s stock, valued at $5,635,707. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

CVLT opened at $66.35 on Friday. Commvault has a 12 month low of $48.35 and a 12 month high of $67.85.

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Commvault (NASDAQ:CVLT) last released its quarterly earnings data on Wednesday, January 24th. The software maker reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). The business had revenue of $180.37 million during the quarter, compared to the consensus estimate of $182.01 million. Commvault had a positive return on equity of 0.32% and a negative net margin of 8.30%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. equities analysts expect that Commvault will post 0.03 EPS for the current fiscal year.

Commvault declared that its board has approved a stock buyback program on Wednesday, January 24th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the software maker to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

CVLT has been the subject of a number of research reports. Zacks Investment Research raised shares of Commvault from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Mizuho reissued a “buy” rating and set a $75.00 target price on shares of Commvault in a research report on Tuesday, January 23rd. BidaskClub downgraded shares of Commvault from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 18th. Lake Street Capital reissued a “buy” rating and set a $58.00 target price (down from $60.00) on shares of Commvault in a research report on Thursday, January 25th. Finally, Jefferies Group reissued a “buy” rating and set a $76.00 target price on shares of Commvault in a research report on Monday, April 2nd. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $72.44.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVLT. Russell Investments Group Ltd. boosted its holdings in Commvault by 85.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 103,700 shares of the software maker’s stock worth $6,305,000 after buying an additional 47,820 shares during the period. Ameriprise Financial Inc. boosted its holdings in Commvault by 13.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 481,302 shares of the software maker’s stock worth $29,263,000 after buying an additional 56,227 shares during the period. Legal & General Group Plc boosted its holdings in Commvault by 15.1% in the 3rd quarter. Legal & General Group Plc now owns 35,839 shares of the software maker’s stock worth $2,180,000 after buying an additional 4,695 shares during the period. Wells Fargo & Company MN boosted its holdings in Commvault by 10.0% in the 3rd quarter. Wells Fargo & Company MN now owns 185,603 shares of the software maker’s stock worth $11,285,000 after buying an additional 16,889 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Commvault by 1.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 255,500 shares of the software maker’s stock worth $15,535,000 after buying an additional 3,847 shares during the period. 90.07% of the stock is owned by institutional investors.

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About Commvault

Commvault Systems, Inc provides data and information management software applications and related services in the United States and internationally. The company's software suite contains solutions that are built on a single unified code base and platform to protect, manage, and access data and information.

Insider Buying and Selling by Quarter for Commvault (NASDAQ:CVLT)

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