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

Principal Financial Group Inc. lowered its stake in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 25.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 119,034 shares of the software maker's stock after selling 41,355 shares during the period. Principal Financial Group Inc. owned approximately 0.27% of Commvault Systems worth $18,313,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CVLT. Xponance Inc. raised its position in shares of Commvault Systems by 1.3% during the second quarter. Xponance Inc. now owns 6,371 shares of the software maker's stock worth $775,000 after purchasing an additional 79 shares during the period. Natixis Advisors LLC increased its stake in Commvault Systems by 1.0% in the 2nd quarter. Natixis Advisors LLC now owns 13,693 shares of the software maker's stock worth $1,665,000 after purchasing an additional 138 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Commvault Systems by 5.4% during the 2nd 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. Parallel Advisors LLC lifted its stake in Commvault Systems by 5.9% during the second quarter. Parallel Advisors LLC now owns 2,749 shares of the software maker's stock valued at $334,000 after buying an additional 153 shares in the last quarter. Finally, Lindenwold Advisors INC boosted its holdings in shares of Commvault Systems by 2.4% in the third quarter. Lindenwold Advisors INC now owns 7,028 shares of the software maker's stock worth $1,081,000 after buying an additional 164 shares during the period. Institutional investors and hedge funds own 93.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Commvault Systems from $164.00 to $182.00 and gave the company a "sector perform" rating in a report on Wednesday, October 30th. DA Davidson increased their target price on Commvault Systems from $170.00 to $175.00 and gave the company a "buy" rating in a report on Friday, September 6th. Guggenheim cut Commvault Systems from a "buy" rating to a "neutral" rating in a research report on Tuesday, October 15th. Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday, November 13th. They set an "outperform" rating and a $200.00 price target on the stock. Finally, StockNews.com lowered Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Commvault Systems presently has an average rating of "Moderate Buy" and a consensus target price of $151.25.

Insider Activity

In related news, Director Allison Pickens sold 1,232 shares of the business's stock in a transaction that occurred on 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 sale, the director now directly owns 5,899 shares in the company, valued at approximately $1,017,577.50. The trade was a 17.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mirchandani sold 10,775 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $165.30, for a total transaction of $1,781,107.50. Following the completion of the sale, the chief executive officer now owns 459,969 shares of the company's stock, valued at $76,032,875.70. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,530 shares of company stock worth $2,244,755. 1.00% of the stock is owned by corporate insiders.

Commvault Systems Trading Down 2.4 %

CVLT stock traded down $3.83 during mid-day trading on Friday, hitting $153.74. The stock had a trading volume of 191,639 shares, compared to its average volume of 353,611. Commvault Systems, Inc. has a 1-year low of $73.33 and a 1-year high of $178.72. The company has a fifty day moving average of $163.44 and a 200 day moving average of $147.46. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 38.92 and a beta of 0.61.

Commvault Systems (NASDAQ:CVLT - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. The firm 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%. The firm's revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. As a group, sell-side analysts expect that Commvault Systems, Inc. will post 1.66 earnings per share for the current fiscal year.

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.