Nuveen Asset Management LLC Cuts Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Nuveen Asset Management LLC lowered its position in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 726,698 shares of the software maker's stock after selling 43,675 shares during the quarter. Nuveen Asset Management LLC owned about 1.65% of Commvault Systems worth $109,666,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CVLT. Invesco Ltd. grew its holdings in shares of Commvault Systems by 57.7% in the fourth quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock valued at $250,527,000 after purchasing an additional 607,643 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Commvault Systems by 604.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 647,525 shares of the software maker's stock valued at $98,479,000 after purchasing an additional 555,656 shares during the last quarter. Norges Bank acquired a new position in Commvault Systems during the fourth quarter worth $79,619,000. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Commvault Systems by 105.3% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 203,704 shares of the software maker's stock worth $30,741,000 after buying an additional 104,489 shares during the period. Finally, Driehaus Capital Management LLC raised its holdings in shares of Commvault Systems by 20.8% in the 4th quarter. Driehaus Capital Management LLC now owns 512,251 shares of the software maker's stock valued at $77,304,000 after buying an additional 88,232 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Commvault Systems Stock Performance

Commvault Systems stock traded up $1.36 during midday trading on Tuesday, hitting $179.51. 430,976 shares of the company's stock were exchanged, compared to its average volume of 418,788. Commvault Systems, Inc. has a 12-month low of $105.76 and a 12-month high of $190.11. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of 47.12 and a beta of 0.71. The firm's 50 day simple moving average is $161.83 and its 200 day simple moving average is $164.61.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. The business had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. Commvault Systems had a net margin of 18.14% and a return on equity of 28.69%. The business's quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. On average, equities research analysts forecast that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVLT has been the topic of several research reports. Guggenheim reissued a "neutral" rating on shares of Commvault Systems in a research report on Wednesday, April 23rd. DA Davidson raised their price target on shares of Commvault Systems from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. KeyCorp decreased their price target on shares of Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Oppenheimer raised their target price on shares of Commvault Systems from $180.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Royal Bank of Canada raised their target price on shares of Commvault Systems from $175.00 to $185.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Commvault Systems presently has an average rating of "Moderate Buy" and an average price target of $175.25.

Insider Transactions at Commvault Systems

In other news, Director Nicola Adamo sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $169.74, for a total transaction of $254,610.00. Following the completion of the transaction, the director now directly owns 16,178 shares of the company's stock, valued at $2,746,053.72. This trade represents a 8.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Merrill sold 3,287 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $186.94, for a total value of $614,471.78. Following the transaction, the insider now directly owns 87,316 shares of the company's stock, valued at $16,322,853.04. The trade was a 3.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,105 shares of company stock valued at $3,159,737 in the last 90 days. 1.00% of the stock is currently owned by insiders.

About Commvault Systems

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.