$178.48 Million in Sales Expected for CommVault Systems, Inc. (CVLT) This Quarter

Brokerages expect CommVault Systems, Inc. (NASDAQ:CVLT) to report sales of $178.48 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for CommVault Systems’ earnings, with estimates ranging from $177.70 million to $179.00 million. CommVault Systems posted sales of $165.97 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.5%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, July 24th.

According to Zacks, analysts expect that CommVault Systems will report full year sales of $767.60 million for the current year, with estimates ranging from $763.70 million to $772.50 million. For the next year, analysts expect that the business will report sales of $848.14 million per share, with estimates ranging from $835.00 million to $871.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover CommVault Systems.

CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings results on Tuesday, May 1st. The software maker reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The firm had revenue of $184.90 million during the quarter, compared to the consensus estimate of $187.01 million. CommVault Systems had a negative return on equity of 0.12% and a negative net margin of 8.85%. CommVault Systems’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS.

A number of brokerages have issued reports on CVLT. Wells Fargo & Co raised their price target on shares of CommVault Systems from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, June 7th. BidaskClub raised shares of CommVault Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 14th. Jefferies Financial Group lifted their target price on shares of CommVault Systems to $80.00 and gave the company a “buy” rating in a research note on Tuesday, May 1st. Lake Street Capital set a $70.00 target price on shares of CommVault Systems and gave the company a “buy” rating in a research note on Tuesday, April 3rd. Finally, KeyCorp lifted their target price on shares of CommVault Systems from $62.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, April 17th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $75.10.

CommVault Systems traded down $0.35, reaching $71.45, during trading hours on Monday, MarketBeat reports. The stock had a trading volume of 388,956 shares, compared to its average volume of 575,514. The firm has a market cap of $3.17 billion, a PE ratio of -121.53, a price-to-earnings-growth ratio of 15.06 and a beta of 1.15. CommVault Systems has a 52 week low of $48.35 and a 52 week high of $72.65.

In related news, insider Gary Merrill sold 19,819 shares of the business’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $70.01, for a total transaction of $1,387,528.19. Following the sale, the insider now owns 38,993 shares of the company’s stock, valued at $2,729,899.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Al Bunte sold 135,000 shares of the business’s stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $65.51, for a total transaction of $8,843,850.00. Following the sale, the insider now directly owns 561,599 shares in the company, valued at approximately $36,790,350.49. The disclosure for this sale can be found here. Insiders have sold a total of 188,353 shares of company stock worth $12,498,524 in the last ninety days. Insiders own 13.40% of the company’s stock.

A number of large investors have recently bought and sold shares of CVLT. SG Americas Securities LLC boosted its stake in CommVault Systems by 242.4% during the fourth quarter. SG Americas Securities LLC now owns 10,552 shares of the software maker’s stock worth $554,000 after acquiring an additional 7,470 shares in the last quarter. Boston Partners bought a new stake in CommVault Systems during the fourth quarter worth about $2,763,000. Alps Advisors Inc. purchased a new position in CommVault Systems in the fourth quarter worth about $460,000. ING Groep NV raised its holdings in CommVault Systems by 25.0% in the fourth quarter. ING Groep NV now owns 6,481 shares of the software maker’s stock worth $340,000 after buying an additional 1,297 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in CommVault Systems by 321.6% in the fourth quarter. Teacher Retirement System of Texas now owns 14,912 shares of the software maker’s stock worth $783,000 after buying an additional 11,375 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

CommVault Systems Company Profile

Commvault Systems, Inc provides data and information management software applications and related services in the United States and internationally. The company's software suite contains solutions that are built on a single unified code base and platform to protect, manage, and access data and information.

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

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