Principal Financial Group Inc. Sells 17,384 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Principal Financial Group Inc. decreased its holdings in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 9.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 160,389 shares of the software maker’s stock after selling 17,384 shares during the quarter. Principal Financial Group Inc. owned 0.37% of Commvault Systems worth $19,498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Commvault Systems by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,531,703 shares of the software maker’s stock valued at $561,081,000 after purchasing an additional 43,333 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Commvault Systems by 16.3% in the 1st quarter. Acadian Asset Management LLC now owns 1,596,635 shares of the software maker’s stock valued at $161,914,000 after acquiring an additional 223,347 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of Commvault Systems by 58.5% during the 1st quarter. Champlain Investment Partners LLC now owns 825,236 shares of the software maker’s stock valued at $83,704,000 after acquiring an additional 304,459 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Commvault Systems by 6.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 489,101 shares of the software maker’s stock valued at $59,460,000 after acquiring an additional 31,015 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Commvault Systems by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,291 shares of the software maker’s stock worth $37,712,000 after acquiring an additional 12,624 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Insider Activity at Commvault Systems

In other Commvault Systems news, insider Gary Merrill sold 17,388 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $150.76, for a total value of $2,621,414.88. Following the completion of the sale, the insider now directly owns 94,530 shares in the company, valued at $14,251,342.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CVLT has been the topic of several research reports. KeyCorp boosted their price target on Commvault Systems from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. DA Davidson upped their price target on shares of Commvault Systems from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, June 14th. StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st. Guggenheim reissued a “buy” rating and issued a $122.00 price objective on shares of Commvault Systems in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada raised their target price on Commvault Systems from $121.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Commvault Systems has a consensus rating of “Moderate Buy” and a consensus target price of $134.29.

Commvault Systems Trading Down 4.0 %

Shares of Commvault Systems stock opened at $149.13 on Wednesday. The business has a 50-day moving average price of $136.40 and a two-hundred day moving average price of $115.37. Commvault Systems, Inc. has a 1-year low of $63.70 and a 1-year high of $157.13. The company has a market cap of $6.53 billion, a P/E ratio of 39.66 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, July 30th. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. Commvault Systems had a return on equity of 32.16% and a net margin of 20.19%. The business had revenue of $224.67 million during the quarter, compared to analysts’ expectations of $215.54 million. During the same quarter last year, the firm posted $0.29 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. Equities research analysts forecast that Commvault Systems, Inc. will post 1.66 EPS for the current fiscal year.

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.