CommVault Systems, Inc. (CVLT) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS
CommVault Systems, Inc. (NASDAQ:CVLT) released its earnings results on Monday. The software maker reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.05), Bloomberg Earnings reports. The company had revenue of $168.14 million during the quarter, compared to the consensus estimate of $170.15 million. CommVault Systems had a return on equity of 0.30% and a net margin of 0.35%. CommVault Systems’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS.
Shares of CommVault Systems (CVLT) opened at 57.90 on Tuesday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 1015.79 and a beta of 1.40. The stock has a 50 day moving average of $60.91 and a 200-day moving average of $57.85. CommVault Systems has a 52 week low of $47.61 and a 52 week high of $64.60.
In other news, insider Al Bunte sold 30,001 shares of CommVault Systems stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $60.01, for a total transaction of $1,800,360.01. Following the completion of the sale, the insider now owns 474,780 shares in the company, valued at approximately $28,491,547.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gary Merrill sold 3,072 shares of CommVault Systems stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $59.01, for a total transaction of $181,278.72. Following the sale, the insider now owns 23,878 shares of the company’s stock, valued at approximately $1,409,040.78. The disclosure for this sale can be found here. Insiders sold a total of 53,507 shares of company stock valued at $3,229,997 in the last 90 days. Corporate insiders own 13.40% of the company’s stock.
Several research firms have recently weighed in on CVLT. Jefferies Group LLC boosted their target price on shares of CommVault Systems from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Lake Street Capital boosted their target price on shares of CommVault Systems from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Stifel Nicolaus reissued a “buy” rating and issued a $75.00 target price (up previously from $68.00) on shares of CommVault Systems in a research report on Wednesday, July 26th. Royal Bank Of Canada reissued a “hold” rating on shares of CommVault Systems in a research report on Monday, October 9th. Finally, Mitsubishi UFJ Financial Group set a $70.00 target price on shares of CommVault Systems and gave the stock a “buy” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $70.67.
About CommVault Systems
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