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

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Wall Street brokerages expect that CommVault Systems, Inc. (NASDAQ:CVLT) will announce earnings of $0.37 per share for the current quarter, according to Zacks. Six analysts have issued estimates for CommVault Systems’ earnings, with the highest EPS estimate coming in at $0.38 and the lowest estimate coming in at $0.35. CommVault Systems reported earnings per share of $0.21 during the same quarter last year, which indicates a positive year-over-year growth rate of 76.2%. The company is scheduled to issue its next quarterly earnings report on Tuesday, October 23rd.

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

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

Several research firms recently weighed in on CVLT. Wells Fargo & Co increased their price target on shares of CommVault Systems from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, June 7th. BidaskClub lowered shares of CommVault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 8th. ValuEngine upgraded shares of CommVault Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research lowered shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Mitsubishi UFJ Financial Group increased their price target on shares of CommVault Systems and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. CommVault Systems has an average rating of “Buy” and a consensus target price of $77.00.

In other CommVault Systems news, SVP Ronald L. Miiller sold 101,521 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $65.34, for a total transaction of $6,633,382.14. Following the sale, the senior vice president now directly owns 140,666 shares of the company’s stock, valued at $9,191,116.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Ronald L. Miiller sold 2,213 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $65.00, for a total transaction of $143,845.00. Following the sale, 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. Over the last ninety days, insiders have sold 104,729 shares of company stock worth $6,845,943. Insiders own 13.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in CommVault Systems during the second quarter valued at about $752,000. Colony Group LLC purchased a new stake in shares of CommVault Systems in the second quarter worth about $2,269,000. Chartwell Investment Partners LLC purchased a new stake in shares of CommVault Systems in the second quarter worth about $14,180,000. MUFG Securities EMEA plc purchased a new stake in shares of CommVault Systems in the second quarter worth about $12,512,000. Finally, Swiss National Bank lifted its holdings in shares of CommVault Systems by 2.7% in the first quarter. Swiss National Bank now owns 75,600 shares of the software maker’s stock worth $4,324,000 after buying an additional 2,000 shares in the last quarter. 90.17% of the stock is currently owned by institutional investors and hedge funds.

CVLT traded up $0.20 during trading on Friday, hitting $70.00. 200,500 shares of the company traded hands, compared to its average volume of 481,244. The firm has a market cap of $3.19 billion, a P/E ratio of -118.64, a PEG ratio of 7.37 and a beta of 1.18. CommVault Systems has a one year low of $48.35 and a one year high of $72.65.

CommVault Systems Company Profile

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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Earnings History and Estimates for CommVault Systems (NASDAQ:CVLT)

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