CommVault Systems, Inc. (CVLT) to Post Q3 2020 Earnings of $0.40 Per Share, Piper Jaffray Companies Forecasts

CommVault Systems, Inc. (NASDAQ:CVLT) – Research analysts at Piper Jaffray Companies cut their Q3 2020 earnings per share estimates for CommVault Systems in a research note issued on Monday, February 11th. Piper Jaffray Companies analyst A. Nowinski now anticipates that the software maker will post earnings per share of $0.40 for the quarter, down from their previous estimate of $0.42. Piper Jaffray Companies has a “Neutral” rating and a $66.00 price objective on the stock. Piper Jaffray Companies also issued estimates for CommVault Systems’ Q4 2020 earnings at $0.45 EPS, FY2020 earnings at $1.37 EPS, Q1 2021 earnings at $0.39 EPS, Q2 2021 earnings at $0.39 EPS, Q3 2021 earnings at $0.56 EPS and FY2021 earnings at $1.95 EPS.

Other equities analysts also recently issued reports about the stock. ValuEngine raised shares of CommVault Systems from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Zacks Investment Research downgraded shares of CommVault Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. BidaskClub raised shares of CommVault Systems from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Lake Street Capital upped their price target on shares of CommVault Systems to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 30th. Finally, JMP Securities downgraded shares of CommVault Systems from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 30th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $75.00.

NASDAQ CVLT opened at $67.77 on Wednesday. CommVault Systems has a 1-year low of $48.95 and a 1-year high of $72.65. The firm has a market capitalization of $3.14 billion, a PE ratio of -114.86, a P/E/G ratio of 5.71 and a beta of 1.21.

CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Tuesday, January 29th. The software maker reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.12. CommVault Systems had a net margin of 0.57% and a return on equity of 5.78%. The business had revenue of $184.28 million for the quarter, compared to the consensus estimate of $180.66 million. During the same period in the prior year, the business posted $0.30 earnings per share. CommVault Systems’s revenue for the quarter was up 2.2% compared to the same quarter last year.

In related news, CEO N Robert Hammer sold 180,000 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $57.33, for a total value of $10,319,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,799,411 shares in the company, valued at $160,490,232.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary B. Smith sold 7,500 shares of the company’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $68.00, for a total transaction of $510,000.00. Following the completion of the sale, the director now owns 36,536 shares of the company’s stock, valued at $2,484,448. The disclosure for this sale can be found here. Corporate insiders own 13.40% of the company’s stock.

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in CommVault Systems by 1.6% in the third quarter. Vanguard Group Inc. now owns 3,784,014 shares of the software maker’s stock worth $264,880,000 after purchasing an additional 57,893 shares in the last quarter. MetLife Investment Advisors LLC boosted its holdings in CommVault Systems by 15.3% in the third quarter. MetLife Investment Advisors LLC now owns 51,370 shares of the software maker’s stock worth $3,596,000 after purchasing an additional 6,830 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in CommVault Systems in the third quarter worth $11,353,000. Strs Ohio boosted its holdings in CommVault Systems by 1.5% in the fourth quarter. Strs Ohio now owns 19,700 shares of the software maker’s stock worth $1,164,000 after purchasing an additional 300 shares in the last quarter. Finally, Vanguard Group Inc boosted its holdings in CommVault Systems by 1.6% in the third quarter. Vanguard Group Inc now owns 3,784,014 shares of the software maker’s stock worth $264,880,000 after purchasing an additional 57,893 shares in the last quarter. Hedge funds and other institutional investors own 90.73% of the company’s stock.

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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