CommVault Systems, Inc. (CVLT) Expected to Post Earnings of $0.34 Per Share

Brokerages expect CommVault Systems, Inc. (NASDAQ:CVLT) to report earnings per share of $0.34 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for CommVault Systems’ earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.39. CommVault Systems reported earnings per share of $0.29 during the same quarter last year, which indicates a positive year-over-year growth rate of 17.2%. The company is expected to issue its next earnings results on Wednesday, May 2nd.

According to Zacks, analysts expect that CommVault Systems will report full year earnings of $1.07 per share for the current fiscal year, with EPS estimates ranging from $1.04 to $1.11. For the next financial year, analysts forecast that the business will post earnings of $1.54 per share, with EPS estimates ranging from $1.44 to $1.59. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow CommVault Systems.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Wednesday, January 24th. The software maker reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). The firm had revenue of $180.37 million during the quarter, compared to analyst estimates of $182.01 million. CommVault Systems had a negative net margin of 8.30% and a positive return on equity of 0.32%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS.

Several research firms have weighed in on CVLT. Lake Street Capital reissued a “buy” rating and issued a $58.00 target price (down previously from $60.00) on shares of CommVault Systems in a report on Thursday, January 25th. Mizuho reissued a “buy” rating and issued a $75.00 target price on shares of CommVault Systems in a report on Tuesday, January 23rd. BidaskClub lowered CommVault Systems from a “sell” rating to a “strong sell” rating in a report on Thursday, January 18th. Zacks Investment Research lowered CommVault Systems from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Finally, Wells Fargo & Co initiated coverage on CommVault Systems in a research note on Tuesday, November 14th. They set an “outperform” rating and a $64.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $69.78.

In related news, Director Gary B. Smith sold 7,500 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $53.50, for a total transaction of $401,250.00. Following the sale, the director now owns 44,212 shares of the company’s stock, valued at $2,365,342. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary Merrill sold 3,335 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $54.40, for a total value of $181,424.00. Following the sale, the insider now directly owns 18,771 shares in the company, valued at approximately $1,021,142.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,335 shares of company stock worth $887,814. Corporate insiders own 13.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. boosted its stake in CommVault Systems by 3.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 24,719 shares of the software maker’s stock worth $1,395,000 after buying an additional 848 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in CommVault Systems by 16.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,277 shares of the software maker’s stock worth $354,000 after buying an additional 878 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in CommVault Systems by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 90,154 shares of the software maker’s stock worth $5,090,000 after buying an additional 937 shares during the last quarter. ING Groep NV boosted its stake in CommVault Systems by 25.0% in the 4th 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, California Public Employees Retirement System boosted its stake in CommVault Systems by 1.6% in the 2nd quarter. California Public Employees Retirement System now owns 87,900 shares of the software maker’s stock worth $4,962,000 after buying an additional 1,400 shares during the last quarter. 90.84% of the stock is currently owned by institutional investors and hedge funds.

CommVault Systems (NASDAQ:CVLT) remained flat at $$49.75 during trading on Friday. 550,770 shares of the company’s stock were exchanged, compared to its average volume of 542,863. The company has a market cap of $2,270.00, a price-to-earnings ratio of -39.17, a price-to-earnings-growth ratio of 82.96 and a beta of 1.36. CommVault Systems has a 52-week low of $48.08 and a 52-week high of $64.60.

CommVault Systems announced that its board has approved a share repurchase plan on Wednesday, January 24th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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CommVault Systems Company Profile

Commvault Systems, Inc (Commvault) is a provider of data and information management software applications and related services. The Company develops, markets and sells a suite of software applications and services, primarily in North America, Europe, Australia and Asia, that provides its customers with data protection solutions supporting all operating systems, applications, and databases on virtual and physical servers, Network Attached Storage (NAS) shares, cloud-based infrastructures, and mobile devices; management through a single console; multiple protection methods, including backup and archive, snapshot management, replication, and content indexing for eDiscovery; storage management using deduplication for disk, tape and cloud; integration with the storage arrays; complete virtual infrastructure management supporting multiple hypervisors; security capabilities to limit access to critical data, and policy-based data management.

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

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