Insider Selling: CommVault Systems, Inc. (CVLT) CEO Sells 180,000 Shares of Stock

CommVault Systems, Inc. (NASDAQ:CVLT) CEO N Robert Hammer sold 180,000 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $57.33, for a total value of $10,319,400.00. Following the sale, the chief executive officer now directly owns 2,799,411 shares in the company, valued at approximately $160,490,232.63. The sale was disclosed in a document filed with the SEC, which is available at this link.

NASDAQ CVLT traded up $0.61 during midday trading on Thursday, hitting $57.31. 14,309 shares of the company traded hands, compared to its average volume of 238,139. The stock has a market capitalization of $2.62 billion, a PE ratio of -97.14, a price-to-earnings-growth ratio of 6.32 and a beta of 1.43. CommVault Systems, Inc. has a 52 week low of $48.35 and a 52 week high of $72.65.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, October 30th. The software maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. The business had revenue of $169.08 million for the quarter, compared to analysts’ expectations of $179.08 million. CommVault Systems had a positive return on equity of 2.96% and a negative net margin of 9.61%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. As a group, analysts forecast that CommVault Systems, Inc. will post 0.57 EPS for the current year.

Several analysts have issued reports on CVLT shares. ValuEngine raised CommVault Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. BidaskClub raised CommVault Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 29th. Finally, Zacks Investment Research cut CommVault Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $76.57.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of CommVault Systems by 5.7% in the 2nd quarter. BlackRock Inc. now owns 4,691,145 shares of the software maker’s stock worth $308,910,000 after purchasing an additional 254,649 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of CommVault Systems by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,784,014 shares of the software maker’s stock worth $264,880,000 after purchasing an additional 57,893 shares in the last quarter. FMR LLC boosted its position in shares of CommVault Systems by 28.8% in the 3rd quarter. FMR LLC now owns 2,301,297 shares of the software maker’s stock worth $161,091,000 after purchasing an additional 513,975 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of CommVault Systems by 1.4% in the 3rd quarter. Renaissance Technologies LLC now owns 1,621,500 shares of the software maker’s stock worth $113,505,000 after purchasing an additional 21,700 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of CommVault Systems by 3.1% in the 2nd quarter. Northern Trust Corp now owns 654,209 shares of the software maker’s stock worth $43,079,000 after purchasing an additional 19,564 shares in the last quarter. 89.46% of the stock is owned by hedge funds and other institutional investors.

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About CommVault Systems

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

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