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

Principal Financial Group Inc. reduced its holdings in Commvault Systems, Inc. (NASDAQ:CVLT - Free Report) by 25.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVLT. Swiss National Bank increased its stake in shares of Commvault Systems by 5.1% in the 1st quarter. Swiss National Bank now owns 86,400 shares of the software maker's stock worth $8,764,000 after acquiring an additional 4,200 shares during the last quarter. Sei Investments Co. boosted its holdings in Commvault Systems by 0.4% in the 1st quarter. Sei Investments Co. now owns 89,427 shares of the software maker's stock valued at $9,071,000 after purchasing an additional 323 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Commvault Systems by 11.5% in the 1st quarter. Russell Investments Group Ltd. now owns 128,268 shares of the software maker's stock valued at $12,996,000 after buying an additional 13,207 shares during the period. ProShare Advisors LLC increased its holdings in shares of Commvault Systems by 9.3% during the 1st quarter. ProShare Advisors LLC now owns 13,327 shares of the software maker's stock worth $1,352,000 after buying an additional 1,133 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Commvault Systems during the 1st quarter valued at approximately $535,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Gary Merrill sold 17,388 shares of Commvault Systems stock in a transaction on 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 transaction, the insider now owns 94,530 shares in the company, valued at approximately $14,251,342.80. This trade represents a 15.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allison Pickens sold 1,232 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $153.89, for a total value of $189,592.48. Following 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. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on CVLT. DA Davidson raised their target price on Commvault Systems from $170.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Oppenheimer assumed coverage on Commvault Systems in a research report on Wednesday. They set an "outperform" rating and a $200.00 price objective for the company. Royal Bank of Canada upped their target price 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. KeyCorp lifted their price target on shares of Commvault Systems from $140.00 to $170.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut shares of Commvault Systems from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Commvault Systems presently has an average rating of "Moderate Buy" and a consensus target price of $151.25.

Commvault Systems Stock Performance

CVLT stock traded down $2.72 during midday trading on Friday, hitting $168.31. 113,234 shares of the stock were exchanged, compared to its average volume of 357,578. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 43.30 and a beta of 0.59. Commvault Systems, Inc. has a fifty-two week low of $68.02 and a fifty-two week high of $178.29. The stock's 50-day moving average price is $152.65 and its 200-day moving average price is $134.89.

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 the consensus estimate of $0.76 by $0.07. The business had revenue of $233.28 million for 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 for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. Research analysts anticipate that Commvault Systems, Inc. will post 1.66 EPS for the current 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.