Commvault Systems Target of Unusually High Options Trading (NASDAQ:CVLT)

Commvault Systems, Inc. (NASDAQ:CVLT) was the recipient of some unusual options trading on Wednesday. Investors acquired 1,063 call options on the stock. This is an increase of 1,419% compared to the average daily volume of 70 call options.

A number of research firms have recently commented on CVLT. Royal Bank of Canada boosted their price target on Commvault Systems from $48.00 to $57.00 in a report on Thursday, January 28th. Wells Fargo & Company boosted their price target on Commvault Systems from $55.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. TheStreet raised Commvault Systems from a “d+” rating to a “c-” rating in a report on Wednesday, December 16th. Lake Street Capital boosted their price target on Commvault Systems from $54.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, January 28th. Finally, Zacks Investment Research cut Commvault Systems from a “buy” rating to a “hold” rating in a report on Tuesday, March 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $65.38.

Shares of CVLT stock opened at $65.24 on Thursday. The firm has a market capitalization of $3.07 billion, a P/E ratio of -98.85, a P/E/G ratio of 8.17 and a beta of 0.79. Commvault Systems has a twelve month low of $34.42 and a twelve month high of $72.33. The stock’s fifty day simple moving average is $65.40 and its 200 day simple moving average is $54.56.

Commvault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, January 26th. The software maker reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $188.00 million for the quarter, compared to analyst estimates of $175.57 million. Commvault Systems had a positive return on equity of 4.52% and a negative net margin of 4.47%. Commvault Systems’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. On average, sell-side analysts anticipate that Commvault Systems will post 0.7 earnings per share for the current fiscal year.

In other Commvault Systems news, CEO Sanjay Mirchandani sold 5,000 shares of Commvault Systems stock in a transaction on Friday, March 5th. The stock was sold at an average price of $60.50, for a total value of $302,500.00. Following the completion of the transaction, the chief executive officer now directly owns 286,556 shares of the company’s stock, valued at approximately $17,336,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James J. Whalen sold 2,904 shares of Commvault Systems stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $70.35, for a total value of $204,296.40. Following the completion of the transaction, the chief accounting officer now directly owns 26,201 shares of the company’s stock, valued at $1,843,240.35. The disclosure for this sale can be found here. Insiders sold a total of 30,745 shares of company stock valued at $1,931,963 over the last ninety days. Insiders own 1.01% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Commvault Systems by 2.8% in the 4th quarter. BlackRock Inc. now owns 5,380,977 shares of the software maker’s stock valued at $297,945,000 after buying an additional 146,203 shares during the last quarter. Starboard Value LP boosted its position in shares of Commvault Systems by 3.6% during the 4th quarter. Starboard Value LP now owns 4,469,256 shares of the software maker’s stock valued at $247,463,000 after purchasing an additional 156,804 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Commvault Systems by 0.7% during the 4th quarter. Alliancebernstein L.P. now owns 2,896,954 shares of the software maker’s stock valued at $160,404,000 after purchasing an additional 21,043 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Commvault Systems by 4.7% during the 4th quarter. Clearbridge Investments LLC now owns 575,027 shares of the software maker’s stock valued at $31,839,000 after purchasing an additional 25,668 shares in the last quarter. Finally, Norges Bank acquired a new position in Commvault Systems during the 4th quarter worth approximately $27,057,000. Hedge funds and other institutional investors own 91.39% of the company’s stock.

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. It offers Commvault Complete Backup & Recovery, a backup and recovery solution for enterprises; and Commvault HyperScale Technology, an add-on for Commvault Complete that delivers an on-premises, cloud-like infrastructure to support scale-out secondary storage.

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