CommVault Systems, Inc. (CVLT) Expected to Post Earnings of $0.37 Per Share

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Equities research analysts predict that CommVault Systems, Inc. (NASDAQ:CVLT) will report earnings of $0.37 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for CommVault Systems’ earnings. The lowest EPS estimate is $0.35 and the highest is $0.38. CommVault Systems reported earnings of $0.21 per share in the same quarter last year, which would indicate a positive year over year growth rate of 76.2%. The firm is expected to issue its next quarterly earnings results before the market opens on Tuesday, October 30th.

On average, analysts expect that CommVault Systems will report full-year earnings of $1.69 per share for the current year, with EPS estimates ranging from $1.66 to $1.71. For the next year, analysts anticipate that the business will post earnings of $2.04 per share, with EPS estimates ranging from $1.71 to $2.23. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for CommVault Systems.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings data on Tuesday, July 24th. The software maker reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.09. The business had revenue of $176.18 million for the quarter, compared to analyst estimates of $177.92 million. CommVault Systems had a positive return on equity of 0.72% and a negative net margin of 9.89%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS.

Several research firms have recently weighed in on CVLT. BidaskClub lowered CommVault Systems from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. ValuEngine lowered CommVault Systems from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Zacks Investment Research raised CommVault Systems from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday. Finally, Mitsubishi UFJ Financial Group lifted their price objective on CommVault Systems and gave the company a “neutral” rating in a research note on Wednesday, July 25th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $76.57.

In related news, Director Vivie Lee sold 860 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $69.75, for a total transaction of $59,985.00. Following the transaction, the director now directly owns 4,364 shares of the company’s stock, valued at approximately $304,389. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ronald L. Miiller sold 2,213 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $65.00, for a total value of $143,845.00. Following the transaction, the senior vice president now directly owns 98,117 shares in the company, valued at $6,377,605. The disclosure for this sale can be found here. Insiders have sold a total of 104,729 shares of company stock worth $6,845,943 over the last three months. 13.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Colony Group LLC bought a new stake in shares of CommVault Systems in the 2nd quarter valued at approximately $2,269,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of CommVault Systems in the 2nd quarter valued at approximately $752,000. SG Americas Securities LLC increased its holdings in shares of CommVault Systems by 29.7% in the 2nd quarter. SG Americas Securities LLC now owns 8,081 shares of the software maker’s stock valued at $532,000 after acquiring an additional 1,849 shares during the last quarter. Chartwell Investment Partners LLC bought a new stake in shares of CommVault Systems in the 2nd quarter valued at approximately $14,180,000. Finally, Brown Advisory Inc. bought a new stake in shares of CommVault Systems in the 2nd quarter valued at approximately $217,000. 90.17% of the stock is currently owned by institutional investors.

Shares of NASDAQ CVLT traded up $0.74 during midday trading on Monday, hitting $60.08. The stock had a trading volume of 297,908 shares, compared to its average volume of 473,406. The firm has a market capitalization of $3.20 billion, a P/E ratio of -101.83, a P/E/G ratio of 7.40 and a beta of 1.17. CommVault Systems has a 1-year low of $48.35 and a 1-year high of $72.65.

About CommVault Systems

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

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