Principal Financial Group Inc. Has $26.56 Million Holdings in CommVault Systems, Inc. $CVLT

Principal Financial Group Inc. lifted its holdings in shares of CommVault Systems, Inc. (NASDAQ:CVLT) by 9.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,692 shares of the software maker’s stock after purchasing an additional 11,569 shares during the quarter. Principal Financial Group Inc. owned 0.32% of CommVault Systems worth $26,560,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Cullen Frost Bankers Inc. increased its stake in CommVault Systems by 43.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 243 shares of the software maker’s stock worth $46,000 after acquiring an additional 74 shares during the period. JSF Financial LLC grew its holdings in shares of CommVault Systems by 1.1% during the 3rd quarter. JSF Financial LLC now owns 7,345 shares of the software maker’s stock worth $1,387,000 after purchasing an additional 82 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of CommVault Systems by 17.1% in the third quarter. Farther Finance Advisors LLC now owns 652 shares of the software maker’s stock worth $123,000 after purchasing an additional 95 shares during the period. Louisiana State Employees Retirement System raised its stake in CommVault Systems by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the software maker’s stock valued at $2,162,000 after purchasing an additional 100 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in CommVault Systems by 1.0% during the second quarter. State of Michigan Retirement System now owns 10,612 shares of the software maker’s stock worth $1,850,000 after purchasing an additional 100 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVLT has been the topic of several recent analyst reports. Zacks Research raised shares of CommVault Systems from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Guggenheim decreased their price objective on shares of CommVault Systems from $200.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. DA Davidson cut their target price on CommVault Systems from $185.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. KeyCorp decreased their price target on CommVault Systems from $152.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 28th. Finally, Cantor Fitzgerald lowered their price target on CommVault Systems from $144.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.58.

Insider Activity at CommVault Systems

In other news, CEO Sanjay Mirchandani sold 14,653 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $123.65, for a total transaction of $1,811,843.45. Following the completion of the transaction, the chief executive officer owned 372,369 shares of the company’s stock, valued at approximately $46,043,426.85. This trade represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jennifer Leigh Dirico sold 830 shares of CommVault Systems stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $123.58, for a total transaction of $102,571.40. Following the transaction, the chief financial officer owned 44,313 shares in the company, valued at approximately $5,476,200.54. This trade represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 33,111 shares of company stock worth $4,058,851 in the last quarter. 1.00% of the stock is owned by insiders.

CommVault Systems Stock Up 5.8%

Shares of CVLT opened at $86.07 on Friday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 2.34 and a current ratio of 2.34. CommVault Systems, Inc. has a 52 week low of $79.51 and a 52 week high of $200.68. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 44.37 and a beta of 0.59. The stock has a fifty day moving average of $117.27 and a 200-day moving average of $149.98.

CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, January 27th. The software maker reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.19. The business had revenue of $313.83 million during the quarter, compared to analysts’ expectations of $299.07 million. CommVault Systems had a return on equity of 37.38% and a net margin of 7.58%.The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. As a group, sell-side analysts anticipate that CommVault Systems, Inc. will post 1.65 earnings per share for the current fiscal year.

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.