Wall Street brokerages expect CommVault Systems, Inc. (NASDAQ:CVLT) to post earnings of $0.53 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for CommVault Systems’ earnings, with the lowest EPS estimate coming in at $0.51 and the highest estimate coming in at $0.55. CommVault Systems reported earnings of $0.31 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 71%. The firm is scheduled to report its next earnings results before the market opens on Tuesday, April 30th.
According to Zacks, analysts expect that CommVault Systems will report full year earnings of $1.84 per share for the current year, with EPS estimates ranging from $1.83 to $1.85. For the next financial year, analysts anticipate that the business will report earnings of $2.41 per share, with EPS estimates ranging from $2.24 to $2.51. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover CommVault Systems.
CommVault Systems (NASDAQ:CVLT) last issued its quarterly earnings data on Tuesday, January 29th. The software maker reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $184.28 million during the quarter, compared to the consensus estimate of $180.66 million. During the same quarter last year, the company earned $0.30 earnings per share. CommVault Systems’s revenue for the quarter was up 2.2% on a year-over-year basis.
A number of analysts have recently weighed in on the stock. Piper Jaffray Companies downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating and set a $66.00 price target for the company. in a research report on Monday, February 11th. Lake Street Capital raised their target price on CommVault Systems to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 30th. BidaskClub cut CommVault Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Zacks Investment Research cut CommVault Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Finally, ValuEngine cut CommVault Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $75.00.
Shares of NASDAQ:CVLT opened at $63.13 on Thursday. CommVault Systems has a 52-week low of $51.53 and a 52-week high of $72.65. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -107.00, a PEG ratio of 3.08 and a beta of 1.23.
In related news, insider Gary Merrill sold 1,385 shares of CommVault Systems stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $67.87, for a total transaction of $93,999.95. Following the sale, the insider now directly owns 16,152 shares in the company, valued at $1,096,236.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Al Bunte sold 64,167 shares of CommVault Systems stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $67.82, for a total transaction of $4,351,805.94. Following the sale, the chief operating officer now owns 486,177 shares in the company, valued at $32,972,524.14. The disclosure for this sale can be found here. Insiders sold 73,052 shares of company stock worth $4,955,806 over the last quarter. 13.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Fort L.P. bought a new stake in shares of CommVault Systems during the fourth quarter valued at about $31,000. Captrust Financial Advisors raised its stake in shares of CommVault Systems by 161.5% during the fourth quarter. Captrust Financial Advisors now owns 1,080 shares of the software maker’s stock valued at $64,000 after purchasing an additional 667 shares in the last quarter. First Mercantile Trust Co. bought a new stake in shares of CommVault Systems during the fourth quarter valued at about $117,000. Quantamental Technologies LLC acquired a new position in CommVault Systems during the fourth quarter worth about $120,000. Finally, LS Investment Advisors LLC grew its holdings in CommVault Systems by 71.7% during the fourth quarter. LS Investment Advisors LLC now owns 3,835 shares of the software maker’s stock worth $227,000 after acquiring an additional 1,601 shares during the period. Institutional investors and hedge funds own 90.90% 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.
Read More: Why is total return important?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CommVault Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CommVault Systems and related companies with MarketBeat.com's FREE daily email newsletter.