Principal Financial Group Inc. Decreases Stake in CommVault Systems, Inc. $CVLT

Key Points

• Principal Financial Group reduced its CommVault Systems stake by 31.1% in the first quarter, selling 45,303 shares and retaining 100,145 shares valued at approximately $7.8 million. Institutional investors and hedge funds collectively own 93.5% of the company.
• Analyst sentiment remains positive overall, with CommVault receiving a “Moderate Buy” consensus rating and an average price target of $145.47. Truist Financial and Mizuho recently raised their targets to $182 and $175, respectively, while some firms downgraded the stock to “Hold.”
• CommVault exceeded quarterly expectations, reporting $1.28 in EPS versus the $1.09 consensus and revenue of $311.69 million, up 13.3% year over year. The stock opened at $142.31, with a market capitalization of $5.89 billion and a price-to-earnings ratio of 89.50.

Principal Financial Group Inc. decreased its holdings in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 31.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 100,145 shares of the software maker's stock after selling 45,303 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of CommVault Systems worth $7,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State of Wyoming purchased a new stake in CommVault Systems during the second quarter worth approximately $35,000. FNY Investment Advisers LLC acquired a new position in shares of CommVault Systems during the 4th quarter valued at $36,000. Banque Cantonale Vaudoise acquired a new position in shares of CommVault Systems during the 3rd quarter valued at $39,000. Assetmark Inc. boosted its position in CommVault Systems by 33.6% during the 4th quarter. Assetmark Inc. now owns 326 shares of the software maker's stock worth $41,000 after purchasing an additional 82 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in CommVault Systems by 188.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 271 shares of the software maker's stock worth $47,000 after purchasing an additional 177 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial raised their price objective on CommVault Systems from $155.00 to $182.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Mizuho upped their target price on CommVault Systems from $140.00 to $175.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Zacks Research lowered CommVault Systems from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. DA Davidson reiterated a "buy" rating and set a $125.00 target price on shares of CommVault Systems in a report on Monday, April 13th. Finally, Wall Street Zen lowered CommVault Systems from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $145.47.

CommVault Systems Stock Performance

NASDAQ:CVLT opened at $142.31 on Monday. The firm has a 50-day moving average of $130.92 and a two-hundred day moving average of $106.90. The company has a debt-to-equity ratio of 117.54, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $5.89 billion, a P/E ratio of 89.50 and a beta of 0.79. CommVault Systems, Inc. has a 1-year low of $71.75 and a 1-year high of $200.68.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last announced its earnings results on Tuesday, April 28th. The software maker reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. CommVault Systems had a return on equity of 51.64% and a net margin of 5.97%.The business had revenue of $311.69 million for the quarter, compared to analyst estimates of $306.71 million. During the same period in the previous year, the company earned $1.03 earnings per share. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts expect that CommVault Systems, Inc. will post 2.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CommVault Systems news, CFO Gary Merrill sold 4,554 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $106.70, for a total value of $485,911.80. Following the transaction, the chief financial officer directly owned 72,775 shares of the company's stock, valued at $7,765,092.50. This represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Danielle Nicole Abrahamsen sold 254 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $150.00, for a total transaction of $38,100.00. Following the sale, the chief accounting officer directly owned 13,156 shares of the company's stock, valued at $1,973,400. The trade was a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 55,279 shares of company stock worth $5,786,557 in the last three months. 0.86% of the stock is owned by insiders.

CommVault Systems Company Profile

Commvault Systems, Inc is a global provider of data protection and information management software designed to help organizations manage, protect, and activate data across on-premises and cloud environments. Founded in 1996 and headquartered in Tinton Falls, New Jersey, Commvault offers a suite of integrated products and services that enable enterprises to back up, recover, archive, and analyze data. Its flagship solutions include Commvault Complete Data Protection, Commvault HyperScale, and the SaaS-based Metallic portfolio, which deliver scalable and automated data management capabilities across hybrid infrastructure environments.

Commvault's platform is built on a unified architecture that allows customers to streamline operations, reduce complexity, and ensure data resiliency.

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