Zacks: Brokerages Expect CommVault Systems, Inc. (CVLT) to Announce $0.27 Earnings Per Share

Equities research analysts expect CommVault Systems, Inc. (NASDAQ:CVLT) to announce earnings of $0.27 per share for the current quarter, according to Zacks. Five analysts have issued estimates for CommVault Systems’ earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.27. CommVault Systems posted earnings per share of $0.21 in the same quarter last year, which suggests a positive year over year growth rate of 28.6%. The company is scheduled to report its next earnings report on Tuesday, July 24th.

According to Zacks, analysts expect that CommVault Systems will report full year earnings of $1.50 per share for the current year, with EPS estimates ranging from $1.48 to $1.52. For the next financial year, analysts expect that the company will report earnings of $2.03 per share, with EPS estimates ranging from $1.80 to $2.13. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow 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 equities research analysts have issued reports on CVLT shares. Wells Fargo & Co raised their price target on shares of CommVault Systems from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, April 3rd. ValuEngine raised shares of CommVault Systems from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. BTIG Research raised their price target on shares of CommVault Systems from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 26th. Jefferies Financial Group reissued a “buy” rating and issued a $76.00 price target on shares of CommVault Systems in a report on Monday, April 2nd. Finally, BidaskClub raised shares of CommVault Systems from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $75.10.

CommVault Systems traded down $0.35, reaching $71.45, during trading hours on Friday, Marketbeat.com 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 other news, insider Gary Merrill sold 19,819 shares of CommVault Systems 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 approximately $2,729,899.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Al Bunte sold 135,000 shares of CommVault Systems stock in a transaction dated Wednesday, April 4th. The shares were 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.

Several institutional investors and hedge funds have recently made changes to their positions in CVLT. Cubist Systematic Strategies LLC bought a new stake in shares of CommVault Systems during the 1st quarter valued at about $171,000. Xact Kapitalforvaltning AB bought a new stake in shares of CommVault Systems during the 4th quarter valued at about $238,000. Virtu Financial LLC bought a new stake in shares of CommVault Systems during the 4th quarter valued at about $260,000. Meadow Creek Investment Management LLC boosted its stake in shares of CommVault Systems by 29.4% during the 4th quarter. Meadow Creek Investment Management LLC now owns 5,544 shares of the software maker’s stock valued at $291,000 after purchasing an additional 1,260 shares in the last quarter. Finally, ING Groep NV boosted its stake in shares of CommVault Systems by 25.0% during the 4th quarter. ING Groep NV now owns 6,481 shares of the software maker’s stock valued at $340,000 after purchasing an additional 1,297 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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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