Nuveen LLC Purchases New Stake in CommVault Systems, Inc. (NASDAQ:CVLT)

Key Points

• Nuveen LLC has acquired a new stake in CommVault Systems, purchasing 736,710 shares valued at approximately $116.2 million, representing about 1.67% of the company.
• CEO Sanjay Mirchandani sold 1,709 shares of CommVault's stock, decreasing his position by 0.36% while still retaining a significant ownership of 469,648 shares valued at around $82.2 million.
• Analysts have generally positive sentiments toward CommVault, with several firms raising their price targets, predicting a stock price growth, and an average consensus rating of "Moderate Buy".

Nuveen LLC acquired a new position in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 736,710 shares of the software maker's stock, valued at approximately $116,223,000. Nuveen LLC owned 1.67% of CommVault Systems at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP lifted its stake in CommVault Systems by 888.2% in the fourth quarter. Quarry LP now owns 168 shares of the software maker's stock valued at $25,000 after buying an additional 151 shares during the period. SBI Securities Co. Ltd. lifted its stake in CommVault Systems by 101.3% in the first quarter. SBI Securities Co. Ltd. now owns 159 shares of the software maker's stock valued at $25,000 after buying an additional 80 shares during the period. Whipplewood Advisors LLC lifted its stake in CommVault Systems by 584.0% in the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock valued at $27,000 after buying an additional 146 shares during the period. Cullen Frost Bankers Inc. acquired a new position in CommVault Systems in the first quarter valued at approximately $27,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in CommVault Systems by 208.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker's stock valued at $29,000 after buying an additional 125 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on CVLT shares. DA Davidson boosted their price target on CommVault Systems from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. KeyCorp boosted their price target on CommVault Systems from $195.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Piper Sandler upped their target price on CommVault Systems from $168.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Wells Fargo & Company upped their target price on CommVault Systems from $190.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Oppenheimer upped their target price on CommVault Systems from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $205.63.

Insiders Place Their Bets

In related news, CEO Sanjay Mirchandani sold 1,709 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the completion of the sale, the chief executive officer directly owned 469,648 shares of the company's stock, valued at approximately $82,188,400. This represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary Merrill sold 1,748 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.91, for a total value of $305,742.68. Following the completion of the sale, the insider directly owned 89,923 shares of the company's stock, valued at $15,728,431.93. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

CommVault Systems Price Performance

Shares of NASDAQ:CVLT traded down $3.33 during trading on Friday, reaching $180.02. 326,962 shares of the stock were exchanged, compared to its average volume of 576,104. The stock has a fifty day moving average of $177.81 and a two-hundred day moving average of $170.83. CommVault Systems, Inc. has a 1-year low of $128.07 and a 1-year high of $200.68. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 100.01 and a beta of 0.70.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The software maker reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.04. The business had revenue of $281.98 million during the quarter, compared to analyst estimates of $267.83 million. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%. CommVault Systems's revenue was up 26% compared to the same quarter last year. Sell-side analysts forecast that CommVault Systems, Inc. will post 1.65 EPS for the current year.

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.