Principal Financial Group Inc. Acquires 19,342 Shares of Commvault Systems, Inc. (NASDAQ:CVLT)

Principal Financial Group Inc. lifted its holdings in Commvault Systems, Inc. (NASDAQ:CVLTGet Rating) by 9.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 213,780 shares of the software maker’s stock after purchasing an additional 19,342 shares during the period. Principal Financial Group Inc.’s holdings in Commvault Systems were worth $13,447,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CVLT. EverSource Wealth Advisors LLC bought a new position in Commvault Systems during the second quarter valued at about $65,000. Lazard Asset Management LLC increased its stake in Commvault Systems by 63.1% during the first quarter. Lazard Asset Management LLC now owns 1,321 shares of the software maker’s stock valued at $87,000 after acquiring an additional 511 shares during the period. Parallel Advisors LLC increased its stake in Commvault Systems by 294.1% during the second quarter. Parallel Advisors LLC now owns 1,809 shares of the software maker’s stock valued at $114,000 after acquiring an additional 1,350 shares during the period. FORA Capital LLC bought a new position in Commvault Systems during the first quarter valued at about $207,000. Finally, Gagnon Securities LLC bought a new position in Commvault Systems during the first quarter valued at about $220,000. 93.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CVLT shares. William Blair restated a “market perform” rating on shares of Commvault Systems in a research note on Wednesday, November 2nd. StockNews.com began coverage on Commvault Systems in a report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Finally, Royal Bank of Canada lifted their price objective on Commvault Systems from $63.00 to $66.00 and gave the company a “sector perform” rating in a report on Wednesday, November 2nd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.50.

Commvault Systems Price Performance

Shares of CVLT opened at $65.73 on Friday. The company has a market capitalization of $2.93 billion, a P/E ratio of 117.38, a PEG ratio of 7.55 and a beta of 0.56. Commvault Systems, Inc. has a one year low of $50.26 and a one year high of $70.88. The business’s 50 day simple moving average is $58.84 and its 200-day simple moving average is $59.07.

About Commvault Systems

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Commvault Systems, Inc provides data protection and information management software applications and related services 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; and Commvault Complete Data Protection, a data protection solution.

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Institutional Ownership by Quarter for Commvault Systems (NASDAQ:CVLT)

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