Principal Financial Group Inc. Sells 41,355 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Principal Financial Group Inc. lessened its position in Commvault Systems, Inc. (NASDAQ:CVLT) by 25.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,034 shares of the software maker’s stock after selling 41,355 shares during the quarter. Principal Financial Group Inc.’s holdings in Commvault Systems were worth $18,313,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Xponance Inc. lifted its holdings in shares of Commvault Systems by 1.3% in the 2nd quarter. Xponance Inc. now owns 6,371 shares of the software maker’s stock worth $775,000 after acquiring an additional 79 shares during the last quarter. EFG Asset Management North America Corp. grew its stake in shares of Commvault Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 21,699 shares of the software maker’s stock valued at $2,637,000 after buying an additional 103 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Commvault Systems by 1.0% during the second quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker’s stock valued at $1,665,000 after buying an additional 138 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Commvault Systems by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,701 shares of the software maker’s stock worth $328,000 after buying an additional 139 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Commvault Systems by 5.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker’s stock valued at $334,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Commvault Systems Price Performance

Shares of Commvault Systems stock opened at $171.03 on Friday. Commvault Systems, Inc. has a 1 year low of $68.02 and a 1 year high of $178.29. The company has a 50-day moving average of $152.65 and a 200 day moving average of $134.89. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 43.50 and a beta of 0.59.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, October 29th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $233.28 million during the quarter, compared to analyst estimates of $220.76 million. Commvault Systems had a net margin of 19.75% and a return on equity of 31.62%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the business earned $0.30 earnings per share. On average, equities analysts anticipate that Commvault Systems, Inc. will post 1.65 EPS for the current year.

Insider Buying and Selling

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the transaction, the insider now owns 94,530 shares of the company’s stock, valued at approximately $14,251,342.80. The trade was a 15.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allison Pickens sold 1,232 shares of Commvault Systems stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.89, for a total transaction of $189,592.48. Following the completion of the sale, the director now owns 7,131 shares of the company’s stock, valued at $1,097,389.59. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on CVLT. DA Davidson lifted their price target on Commvault Systems from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada lifted their target price on shares of Commvault Systems from $164.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Oppenheimer initiated coverage on shares of Commvault Systems in a research report on Wednesday. They issued an “outperform” rating and a $200.00 price objective on the stock. Finally, KeyCorp increased their target price on shares of Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Commvault Systems presently has an average rating of “Moderate Buy” and an average target price of $151.25.

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.