Nuveen LLC Buys New Position 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 stake in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 736,710 shares of the software maker's stock, valued at approximately $116,223,000. Nuveen LLC owned about 1.67% of CommVault Systems as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wedge Capital Management L L P NC lifted its stake in shares of CommVault Systems by 1,936.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 360,355 shares of the software maker's stock worth $56,850,000 after purchasing an additional 342,656 shares during the last quarter. Polar Capital Holdings Plc raised its stake in shares of CommVault Systems by 182.5% in the fourth quarter. Polar Capital Holdings Plc now owns 362,958 shares of the software maker's stock worth $54,774,000 after purchasing an additional 234,477 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of CommVault Systems by 20,945.1% in the first quarter. GAMMA Investing LLC now owns 211,714 shares of the software maker's stock worth $33,400,000 after purchasing an additional 210,708 shares during the last quarter. Invesco Ltd. grew its holdings in CommVault Systems by 7.1% during the first quarter. Invesco Ltd. now owns 1,777,307 shares of the software maker's stock worth $280,388,000 after acquiring an additional 117,199 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of CommVault Systems by 105.3% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 203,704 shares of the software maker's stock valued at $30,741,000 after buying an additional 104,489 shares in the last quarter. Institutional investors own 93.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of CommVault Systems from $195.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Guggenheim set a $220.00 price target on shares of CommVault Systems in a research note on Tuesday, July 29th. DA Davidson boosted their price objective on CommVault Systems from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Wells Fargo & Company raised their target price on CommVault Systems from $190.00 to $220.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada lifted their price target on CommVault Systems from $185.00 to $217.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.63.

CommVault Systems Stock Down 1.8%

NASDAQ:CVLT traded down $3.33 on Friday, reaching $180.02. The company's stock had a trading volume of 326,962 shares, compared to its average volume of 496,633. CommVault Systems, Inc. has a 12-month low of $128.07 and a 12-month 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. The stock has a 50 day moving average price of $177.98 and a 200 day moving average price of $170.52.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. CommVault Systems had a return on equity of 30.83% and a net margin of 7.70%. The firm had revenue of $281.98 million for the quarter, compared to the consensus estimate of $267.83 million. The business's quarterly revenue was up 26% compared to the same quarter last year. Equities research analysts expect that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Activity

In other news, insider Gary Merrill sold 1,748 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total transaction of $305,742.68. Following the completion of the transaction, the insider directly owned 89,923 shares of the company's stock, valued at approximately $15,728,431.93. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mirchandani sold 1,709 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $299,075.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate 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.