Wall Street brokerages predict that CommVault Systems, Inc. (NASDAQ:CVLT) will report earnings of $0.35 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for CommVault Systems’ earnings, with estimates ranging from $0.33 to $0.36. CommVault Systems posted earnings per share of $0.42 in the same quarter last year, which would indicate a negative year-over-year growth rate of 16.7%. The company is expected to report its next quarterly earnings results on Tuesday, November 3rd.
According to Zacks, analysts expect that CommVault Systems will report full year earnings of $1.71 per share for the current fiscal year, with EPS estimates ranging from $1.63 to $1.78. For the next financial year, analysts forecast that the firm will report earnings of $1.82 per share, with EPS estimates ranging from $1.73 to $1.88. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for CommVault Systems.
CommVault Systems (NASDAQ:CVLT) last issued its earnings results on Tuesday, July 28th. The software maker reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.35. CommVault Systems had a return on equity of 6.28% and a net margin of 0.51%. The firm had revenue of $173.00 million for the quarter, compared to analyst estimates of $152.87 million. During the same period last year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis.
A number of research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target on shares of CommVault Systems in a report on Tuesday, July 28th. Lake Street Capital raised CommVault Systems from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Tuesday, July 28th. Royal Bank of Canada reissued a “hold” rating and set a $48.00 price target on shares of CommVault Systems in a report on Thursday, July 30th. Jefferies Financial Group raised their price target on CommVault Systems from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, BidaskClub lowered CommVault Systems from a “sell” rating to a “strong sell” rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. CommVault Systems has an average rating of “Hold” and a consensus price target of $51.17.
In related news, CEO Sanjay Mirchandani sold 21,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $43.06, for a total value of $904,260.00. Following the completion of the transaction, the chief executive officer now owns 310,306 shares in the company, valued at approximately $13,361,776.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Blasio Riccardo Di sold 6,180 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $42.93, for a total value of $265,307.40. Following the completion of the transaction, the vice president now owns 48,578 shares of the company’s stock, valued at approximately $2,085,453.54. The disclosure for this sale can be found here. Insiders have sold 35,093 shares of company stock valued at $1,515,800 in the last ninety days. Company insiders own 1.01% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in shares of CommVault Systems by 10.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 89,338 shares of the software maker’s stock valued at $3,616,000 after purchasing an additional 8,597 shares during the period. Federated Hermes Inc. boosted its position in shares of CommVault Systems by 47.3% in the 1st quarter. Federated Hermes Inc. now owns 335,233 shares of the software maker’s stock valued at $13,570,000 after purchasing an additional 107,600 shares during the period. State Street Corp boosted its position in shares of CommVault Systems by 2.8% in the 1st quarter. State Street Corp now owns 1,356,566 shares of the software maker’s stock valued at $54,914,000 after purchasing an additional 36,373 shares during the period. Nuveen Asset Management LLC boosted its position in shares of CommVault Systems by 108.8% in the 1st quarter. Nuveen Asset Management LLC now owns 552,397 shares of the software maker’s stock valued at $22,361,000 after purchasing an additional 287,884 shares during the period. Finally, Swiss National Bank boosted its position in CommVault Systems by 17.3% during the 2nd quarter. Swiss National Bank now owns 98,800 shares of the software maker’s stock worth $3,824,000 after acquiring an additional 14,600 shares during the period. Institutional investors and hedge funds own 94.35% of the company’s stock.
Shares of CVLT traded up $0.26 during trading hours on Wednesday, reaching $40.89. 260,157 shares of the company’s stock traded hands, compared to its average volume of 530,109. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 584.23, a P/E/G ratio of 7.58 and a beta of 0.74. CommVault Systems has a twelve month low of $24.26 and a twelve month high of $51.90. The business’s fifty day simple moving average is $42.51 and its two-hundred day simple moving average is $39.79.
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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