Principal Financial Group Inc. Decreases Stake in Commvault Systems, Inc. (NASDAQ:CVLT)

Principal Financial Group Inc. lowered its position in Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) by 3.4% in the fourth quarter, Holdings Channel reports. The fund owned 182,470 shares of the software maker’s stock after selling 6,438 shares during the period. Principal Financial Group Inc.’s holdings in Commvault Systems were worth $11,466,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CVLT. Raymond James & Associates lifted its stake in Commvault Systems by 25.7% in the first quarter. Raymond James & Associates now owns 26,393 shares of the software maker’s stock worth $1,751,000 after acquiring an additional 5,402 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Commvault Systems by 36.1% during the 1st quarter. American Century Companies Inc. now owns 23,076 shares of the software maker’s stock worth $1,531,000 after buying an additional 6,118 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Commvault Systems by 34.1% during the 1st quarter. MetLife Investment Management LLC now owns 50,861 shares of the software maker’s stock worth $3,375,000 after buying an additional 12,933 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Commvault Systems by 1.9% during the 1st quarter. Rhumbline Advisers now owns 126,222 shares of the software maker’s stock worth $8,375,000 after buying an additional 2,363 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Commvault Systems by 8.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,331 shares of the software maker’s stock worth $1,084,000 after buying an additional 1,243 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Commvault Systems Stock Performance

Shares of CVLT opened at $68.65 on Friday. The stock has a market capitalization of $3.02 billion, a P/E ratio of -84.74, a P/E/G ratio of 6.58 and a beta of 0.60. The company’s fifty day moving average is $59.62 and its two-hundred day moving average is $61.32. Commvault Systems, Inc. has a 1 year low of $50.26 and a 1 year high of $69.16.

Insider Buying and Selling at Commvault Systems

In other Commvault Systems news, CAO James J. Whalen sold 4,203 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $67.03, for a total value of $281,727.09. Following the transaction, the chief accounting officer now directly owns 21,158 shares of the company’s stock, valued at approximately $1,418,220.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO James J. Whalen sold 4,203 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $67.03, for a total transaction of $281,727.09. Following the transaction, the chief accounting officer now directly owns 21,158 shares of the company’s stock, valued at approximately $1,418,220.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mirchandani sold 22,310 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $58.92, for a total transaction of $1,314,505.20. Following the transaction, the chief executive officer now directly owns 417,826 shares in the company, valued at $24,618,307.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,958 shares of company stock valued at $5,509,713. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Guggenheim assumed coverage on shares of Commvault Systems in a report on Thursday, January 26th. They issued a “buy” rating and a $86.00 target price on the stock. StockNews.com assumed coverage on shares of Commvault Systems in a report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. 51job reaffirmed a “maintains” rating on shares of Commvault Systems in a report on Wednesday, May 3rd. Finally, Piper Sandler lifted their target price on shares of Commvault Systems from $60.00 to $65.00 in a report on Wednesday, May 3rd. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.20.

Commvault Systems Profile

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Commvault Systems, Inc engages in the provision of data protection and information management software applications and related services. Its products include Data Protection and insights, Storage, and Metallic BaaS. The firm also offers professional, managed, support, and training services. The company was founded in 1996 and is headquartered in Tinton Falls, NJ.