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

Wall Street brokerages expect that CommVault Systems, Inc. (NASDAQ:CVLT) will post $0.37 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided 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 suggest a positive year over year growth rate of 76.2%. The firm is expected to report its next earnings report on Tuesday, October 23rd.

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 financial year, analysts forecast 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 averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CommVault Systems.

CommVault Systems (NASDAQ:CVLT) last released its quarterly earnings results on Tuesday, July 24th. The software maker reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.09. The business had revenue of $176.18 million during the quarter, compared to the consensus estimate of $177.92 million. CommVault Systems had a positive return on equity of 0.72% and a negative net margin of 9.89%. The business’s quarterly 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.

A number of research firms have recently weighed in on CVLT. Wells Fargo & Co lifted their price objective on CommVault Systems from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, June 7th. BidaskClub cut CommVault Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 8th. Mitsubishi UFJ Financial Group lifted their price objective on CommVault Systems and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Zacks Investment Research raised CommVault Systems from a “hold” rating to a “strong-buy” rating and set a $74.00 price objective on the stock in a research report on Friday, July 27th. Finally, ValuEngine cut CommVault Systems from a “buy” rating to a “hold” rating in a research report on Saturday, August 18th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $77.00.

Shares of CommVault Systems stock traded up $0.10 during trading hours on Friday, reaching $69.70. 13,740 shares of the stock traded hands, compared to its average volume of 292,060. The company has a market cap of $3.16 billion, a P/E ratio of -117.29, a P/E/G ratio of 7.30 and a beta of 1.18. CommVault Systems has a one year low of $48.35 and a one year high of $72.65.

In related news, SVP Ronald L. Miiller sold 101,521 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $65.34, for a total value of $6,633,382.14. Following the transaction, the senior vice president now directly owns 140,666 shares of the company’s stock, valued at approximately $9,191,116.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $59,985.00. Following the completion of the transaction, the director now directly owns 4,364 shares in the company, valued at $304,389. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,729 shares of company stock worth $6,845,943. 13.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVLT. Wells Fargo & Company MN lifted its holdings in CommVault Systems by 10.6% in the 1st quarter. Wells Fargo & Company MN now owns 602,775 shares of the software maker’s stock worth $34,478,000 after purchasing an additional 57,560 shares in the last quarter. Prudential Financial Inc. lifted its holdings in CommVault Systems by 134.2% in the 1st quarter. Prudential Financial Inc. now owns 69,047 shares of the software maker’s stock worth $3,949,000 after purchasing an additional 39,570 shares in the last quarter. Swiss National Bank lifted its holdings in CommVault Systems by 2.7% in the 1st quarter. Swiss National Bank now owns 75,600 shares of the software maker’s stock worth $4,324,000 after purchasing an additional 2,000 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in CommVault Systems by 13.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 260,944 shares of the software maker’s stock worth $14,926,000 after purchasing an additional 30,698 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new position in CommVault Systems in the 1st quarter worth approximately $1,421,000. 90.17% of the stock is currently owned by institutional investors.

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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