Principal Financial Group Inc. Has $18.31 Million Stock Holdings in Commvault Systems, Inc. (NASDAQ:CVLT)

Principal Financial Group Inc. reduced its position in shares of Commvault Systems, Inc. (NASDAQ:CVLT) by 25.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 119,034 shares of the software maker’s stock after selling 41,355 shares during the quarter. Principal Financial Group Inc. owned about 0.27% of Commvault Systems worth $18,313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Summit Partners Public Asset Management LLC acquired a new position in shares of Commvault Systems during the third quarter worth approximately $67,722,000. AQR Capital Management LLC raised its holdings in Commvault Systems by 33.5% during the second quarter. AQR Capital Management LLC now owns 648,858 shares of the software maker’s stock worth $78,882,000 after buying an additional 162,722 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Commvault Systems by 7.5% in the second quarter. Renaissance Technologies LLC now owns 1,813,487 shares of the software maker’s stock valued at $220,466,000 after buying an additional 126,800 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Commvault Systems by 25.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 586,795 shares of the software maker’s stock valued at $90,278,000 after buying an additional 120,779 shares during the last quarter. Finally, Congress Asset Management Co. increased its position in shares of Commvault Systems by 29.4% during the third quarter. Congress Asset Management Co. now owns 492,162 shares of the software maker’s stock worth $75,719,000 after acquiring an additional 111,715 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

Commvault Systems Stock Performance

Shares of CVLT stock opened at $157.57 on Friday. Commvault Systems, Inc. has a 52 week low of $73.33 and a 52 week high of $178.72. The firm’s 50-day simple moving average is $163.14 and its two-hundred day simple moving average is $147.39. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 39.89 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT) last posted its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million for the quarter, compared to the consensus estimate of $220.76 million. Commvault Systems had a return on equity of 31.62% and a net margin of 19.75%. Commvault Systems’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. Analysts forecast that Commvault Systems, Inc. will post 1.66 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Sanjay Mirchandani sold 10,775 shares of Commvault Systems stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total value of $1,781,107.50. Following the completion of the transaction, the chief executive officer now directly owns 459,969 shares in the company, valued at approximately $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $172.50, for a total value of $212,520.00. Following the completion of the transaction, the director now owns 5,899 shares of the company’s stock, valued at approximately $1,017,577.50. This represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,530 shares of company stock valued at $2,244,755. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. DA Davidson lifted their target price on Commvault Systems from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Guggenheim lowered Commvault Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 15th. 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 objective on the stock. Finally, StockNews.com downgraded shares of Commvault Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.25.

Commvault Systems Company 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.