Commvault Systems, Inc. (NASDAQ:CVLT) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in Commvault Systems by 57.7% in the 4th quarter. Invesco Ltd. now owns 1,660,108 shares of the software maker's stock valued at $250,527,000 after buying an additional 607,643 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Commvault Systems by 604.8% in the fourth 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 period. Norges Bank purchased a new stake in shares of Commvault Systems in the fourth quarter valued at about $79,619,000. Caisse DE Depot ET Placement DU Quebec increased its position in 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 purchasing an additional 104,489 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its stake in Commvault Systems by 20.8% during the fourth quarter. Driehaus Capital Management LLC now owns 512,251 shares of the software maker's stock worth $77,304,000 after purchasing an additional 88,232 shares during the period. Hedge funds and other institutional investors own 93.50% of the company's stock.

Commvault Systems Price Performance

Shares of NASDAQ CVLT traded up $1.89 during midday trading on Thursday, hitting $176.29. The company's stock had a trading volume of 63,248 shares, compared to its average volume of 418,603. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 46.37 and a beta of 0.71. The business's fifty day simple moving average is $162.76 and its two-hundred day simple moving average is $164.78. Commvault Systems, Inc. has a 1 year low of $105.76 and a 1 year high of $190.11.

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

Insider Buying and Selling

In related 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 value of $254,610.00. Following the sale, the director now owns 16,178 shares of the company's stock, valued at $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank of Canada increased their price objective on Commvault Systems from $175.00 to $185.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 30th. KeyCorp lowered their price target on Commvault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Piper Sandler reduced their price objective on shares of Commvault Systems from $154.00 to $147.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. William Blair raised shares of Commvault Systems from a "market perform" rating to an "outperform" rating in a research report on Thursday, January 30th. Finally, Wall Street Zen raised shares of Commvault Systems from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $175.25.

Commvault Systems Profile

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.