Nuveen Asset Management LLC Sells 43,675 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Nuveen Asset Management LLC reduced its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 5.7% in the 4th quarter, according to the company in its most recent 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 period. Nuveen Asset Management LLC’s holdings in Commvault Systems were worth $109,666,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Invesco Ltd. raised its stake in Commvault Systems by 57.7% during the 4th 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 last quarter. Allspring Global Investments Holdings LLC raised its stake in Commvault Systems by 604.8% during 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 4th quarter valued at $79,619,000. Caisse DE Depot ET Placement DU Quebec raised its stake in Commvault Systems by 105.3% during the 4th 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 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 4th quarter. Driehaus Capital Management LLC now owns 512,251 shares of the software maker’s stock valued at $77,304,000 after purchasing an additional 88,232 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

Commvault Systems Stock Performance

CVLT opened at $178.04 on Friday. The firm’s 50-day simple moving average is $160.81 and its 200-day simple moving average is $164.32. Commvault Systems, Inc. has a twelve month low of $105.76 and a twelve month high of $190.11. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 46.73 and a beta of 0.71.

Commvault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, topping 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 business had revenue of $275.04 million for the quarter, compared to analyst estimates of $262.52 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVLT has been the subject of several research analyst reports. Guggenheim reiterated a “neutral” rating on shares of Commvault Systems in a research note on Wednesday, April 23rd. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Oppenheimer increased their price objective on shares of Commvault Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. KeyCorp dropped their price objective on shares of Commvault Systems from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Wells Fargo & Company increased their price objective on shares of Commvault Systems from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.25.

Insider Transactions at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total value of $614,471.78. Following the completion of the sale, the insider now owns 87,316 shares in the company, valued at approximately $16,322,853.04. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nicola Adamo sold 1,500 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 16,178 shares of the company’s stock, valued at $2,746,053.72. The trade was a 8.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,105 shares of company stock valued at $3,159,737. 1.00% of the stock is owned by insiders.

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.