Commvault Systems, Inc. (NASDAQ:CVLT) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in Commvault Systems, Inc. (NASDAQ:CVLT) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 120,374 shares of the software maker’s stock after acquiring an additional 1,340 shares during the period. Principal Financial Group Inc. owned 0.28% of Commvault Systems worth $18,166,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC purchased a new stake in shares of Commvault Systems in the fourth quarter valued at about $6,901,000. Congress Asset Management Co. lifted its stake in Commvault Systems by 5.7% in the 4th quarter. Congress Asset Management Co. now owns 520,378 shares of the software maker’s stock valued at $78,530,000 after buying an additional 28,216 shares in the last quarter. Blue Trust Inc. lifted its stake in Commvault Systems by 37,400.0% in the 4th quarter. Blue Trust Inc. now owns 750 shares of the software maker’s stock valued at $113,000 after buying an additional 748 shares in the last quarter. TFC Financial Management Inc. grew its holdings in Commvault Systems by 294.1% during the 4th quarter. TFC Financial Management Inc. now owns 402 shares of the software maker’s stock valued at $61,000 after buying an additional 300 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Commvault Systems by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 36,794 shares of the software maker’s stock worth $5,553,000 after buying an additional 6,982 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Commvault Systems Stock Down 0.5 %

NASDAQ:CVLT opened at $169.81 on Tuesday. The company has a market cap of $7.47 billion, a P/E ratio of 44.57 and a beta of 0.65. The firm’s 50 day moving average is $163.99 and its two-hundred day moving average is $159.53. Commvault Systems, Inc. has a fifty-two week low of $93.48 and a fifty-two week high of $190.11.

Insider Transactions at Commvault Systems

In other news, CEO Sanjay Mirchandani sold 12,318 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $185.96, for a total transaction of $2,290,655.28. Following the completion of the sale, the chief executive officer now owns 427,231 shares in the company, valued at approximately $79,447,876.76. The trade was a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Merrill sold 3,287 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $186.94, for a total transaction of $614,471.78. Following the completion of the transaction, the insider now owns 87,316 shares in the company, valued at $16,322,853.04. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,837 shares of company stock worth $3,117,647 in the last ninety days. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVLT. KeyCorp upped their price objective on Commvault Systems from $192.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. StockNews.com upgraded shares of Commvault Systems from a “hold” rating to a “buy” rating in a report on Tuesday. Oppenheimer assumed coverage on shares of Commvault Systems in a report on Wednesday, November 13th. They set an “outperform” rating and a $200.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Finally, William Blair raised shares of Commvault Systems from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Commvault Systems currently has an average rating of “Moderate Buy” and a consensus price target of $156.44.

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.