Traders Purchase Large Volume of Commvault Systems Call Options (NASDAQ:CVLT)


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

A number of research analysts have recently commented on the stock. Lake Street Capital boosted their target price on shares of Commvault Systems from $54.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, January 28th. TheStreet upgraded shares of Commvault Systems from a “d+” rating to a “c-” rating in a report on Wednesday, December 16th. Piper Sandler increased their price objective on Commvault Systems from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. KeyCorp lifted their price target on Commvault Systems from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Finally, Zacks Investment Research lowered shares of Commvault Systems from a “buy” rating to a “hold” rating in a report on Tuesday, March 30th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $65.38.

In other news, CAO James J. Whalen sold 2,904 shares of the firm’s 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 sale, the chief accounting officer now owns 26,201 shares in the company, valued at approximately $1,843,240.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian Carolan sold 7,500 shares of the company’s stock in a transaction on Thursday, January 28th. The stock was sold at an average price of $61.90, for a total value of $464,250.00. Following the transaction, the chief financial officer now directly owns 157,457 shares in the company, valued at approximately $9,746,588.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,745 shares of company stock worth $1,931,963. Insiders own 1.01% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Centaurus Financial Inc. bought a new stake in shares of Commvault Systems in the 4th quarter valued at about $113,000. Benjamin F. Edwards & Company Inc. raised its stake in Commvault Systems by 360.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,613 shares of the software maker’s stock valued at $145,000 after buying an additional 2,045 shares during the period. Group One Trading L.P. acquired a new stake in shares of Commvault Systems in the fourth quarter valued at approximately $170,000. Nisa Investment Advisors LLC boosted its stake in shares of Commvault Systems by 12.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,589 shares of the software maker’s stock worth $199,000 after acquiring an additional 400 shares during the period. Finally, Toroso Investments LLC bought a new position in shares of Commvault Systems during the 4th quarter worth approximately $200,000. 91.39% of the stock is owned by institutional investors.

Shares of NASDAQ CVLT opened at $65.24 on Thursday. The stock has a market capitalization of $3.07 billion, a PE ratio of -98.85, a price-to-earnings-growth ratio of 8.17 and a beta of 0.79. Commvault Systems has a 52 week low of $34.42 and a 52 week high of $72.33. The stock has a 50 day moving average price of $65.40 and a 200 day moving average price of $54.56.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, January 26th. The software maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. Commvault Systems had a negative net margin of 4.47% and a positive return on equity of 4.52%. The business had revenue of $188.00 million during the quarter, compared to analysts’ expectations of $175.57 million. During the same period last year, the business earned $0.47 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that Commvault Systems will post 0.7 earnings per share for the current fiscal year.

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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