Principal Financial Group Inc. Grows Position in CommVault Systems, Inc. (NASDAQ:CVLT)

Principal Financial Group Inc. lifted its holdings in CommVault Systems, Inc. (NASDAQ:CVLT - Free Report) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,042 shares of the software maker's stock after buying an additional 1,668 shares during the quarter. Principal Financial Group Inc. owned 0.28% of CommVault Systems worth $19,253,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Quarry LP raised its holdings in CommVault Systems by 888.2% during the fourth quarter. Quarry LP now owns 168 shares of the software maker's stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Whipplewood Advisors LLC raised its holdings in CommVault Systems by 584.0% during the first quarter. Whipplewood Advisors LLC now owns 171 shares of the software maker's stock worth $27,000 after purchasing an additional 146 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in CommVault Systems by 208.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 185 shares of the software maker's stock worth $29,000 after purchasing an additional 125 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of CommVault Systems in the first quarter worth $43,000. Finally, Versant Capital Management Inc raised its holdings in shares of CommVault Systems by 183.7% in the first quarter. Versant Capital Management Inc now owns 295 shares of the software maker's stock worth $47,000 after acquiring an additional 191 shares during the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVLT. Piper Sandler cut their price target on CommVault Systems from $154.00 to $147.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. KeyCorp cut their price target on CommVault Systems from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Wells Fargo & Company boosted their price target on CommVault Systems from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. DA Davidson boosted their price target on CommVault Systems from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Guggenheim reissued a "neutral" rating on shares of CommVault Systems in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $182.86.

CommVault Systems Stock Performance

NASDAQ CVLT traded down $5.02 during trading hours on Friday, hitting $165.05. 334,338 shares of the company's stock were exchanged, compared to its average volume of 434,894. The business's 50 day moving average is $177.91 and its 200-day moving average is $167.11. CommVault Systems, Inc. has a 12-month low of $119.67 and a 12-month high of $192.01. The firm has a market capitalization of $7.35 billion, a P/E ratio of 97.66 and a beta of 0.73.

CommVault Systems (NASDAQ:CVLT - Get Free Report) last released its earnings results on Tuesday, April 29th. The software maker reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.10. CommVault Systems had a return on equity of 32.31% and a net margin of 7.64%. The firm had revenue of $275.04 million for the quarter, compared to the consensus estimate of $262.52 million. During the same period in the prior year, the business posted $0.79 earnings per share. The firm's revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities research analysts anticipate that CommVault Systems, Inc. will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Gary Merrill sold 1,748 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.91, for a total value of $305,742.68. Following the transaction, the insider directly owned 89,923 shares in the company, valued at $15,728,431.93. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nicola Adamo sold 1,500 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $169.74, for a total value of $254,610.00. Following the completion of the transaction, the director owned 16,178 shares in the company, valued at approximately $2,746,053.72. This trade represents a 8.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,957 shares of company stock worth $859,428. 1.00% of the stock is owned by company insiders.

CommVault Systems Company Profile

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.