CommVault Systems, Inc. $CVLT Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 31.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 100,145 shares of the software maker’s stock after selling 45,303 shares during the quarter. Principal Financial Group Inc.’s holdings in CommVault Systems were worth $7,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. State of Wyoming bought a new stake in shares of CommVault Systems in the 2nd quarter valued at approximately $35,000. Banque Cantonale Vaudoise bought a new position in CommVault Systems during the third quarter worth $39,000. Advisory Services Network LLC acquired a new position in CommVault Systems in the third quarter worth $47,000. EverSource Wealth Advisors LLC boosted its holdings in CommVault Systems by 188.3% in the second 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. Finally, FNY Investment Advisers LLC bought a new stake in CommVault Systems during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CVLT shares. Wolfe Research began coverage on shares of CommVault Systems in a research report on Friday, May 1st. They issued a “peer perform” rating on the stock. Scotiabank boosted their price objective on shares of CommVault Systems from $105.00 to $110.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. KeyCorp increased their price objective on shares of CommVault Systems from $125.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Jefferies Financial Group initiated coverage on shares of CommVault Systems in a report on Monday, April 27th. They issued a “hold” rating and a $105.00 target price on the stock. Finally, Wall Street Zen downgraded CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.47.

CommVault Systems Stock Performance

Shares of CVLT opened at $142.31 on Monday. The firm has a fifty day moving average of $130.92 and a 200-day moving average of $106.90. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 89.50 and a beta of 0.79. The company has a debt-to-equity ratio of 117.54, a quick ratio of 1.95 and a current ratio of 1.95. CommVault Systems, Inc. has a 1 year low of $71.75 and a 1 year high of $200.68.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, April 28th. The software maker reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. The business had revenue of $311.69 million for the quarter, compared to analysts’ expectations of $306.71 million. CommVault Systems had a net margin of 5.97% and a return on equity of 51.64%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. As a group, equities analysts anticipate that CommVault Systems, Inc. will post 2.88 earnings per share for the current year.

Insider Buying and Selling at CommVault Systems

In related news, CAO Danielle Nicole Abrahamsen sold 254 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $150.00, for a total value of $38,100.00. Following the completion of the transaction, the chief accounting officer directly owned 13,156 shares of the company’s stock, valued at $1,973,400. This represents a 1.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mirchandani sold 8,450 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $99.13, for a total value of $837,648.50. Following the completion of the sale, the chief executive officer owned 306,927 shares in the company, valued at approximately $30,425,673.51. This represents a 2.68% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 55,279 shares of company stock worth $5,786,557. 0.86% of the stock is owned by company insiders.

CommVault Systems 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.