Analysts Expect CommVault Systems, Inc. (CVLT) to Post $0.31 EPS

Wall Street brokerages forecast that CommVault Systems, Inc. (NASDAQ:CVLT) will report earnings per share (EPS) of $0.31 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for CommVault Systems’ earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.32. CommVault Systems reported earnings of $0.28 per share during the same quarter last year, which would suggest a positive year over year growth rate of 10.7%. The firm is scheduled to issue its next earnings report on Wednesday, January 24th.

According to Zacks, analysts expect that CommVault Systems will report full year earnings of $1.10 per share for the current financial year, with EPS estimates ranging from $1.08 to $1.11. For the next financial year, analysts expect that the business will report earnings of $1.31 per share, with EPS estimates ranging from $1.18 to $1.51. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for CommVault Systems.

CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Tuesday, October 24th. The software maker reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.05). CommVault Systems had a negative return on equity of 0.17% and a net margin of 0.28%. The firm had revenue of $168.14 million during the quarter, compared to the consensus estimate of $170.15 million. During the same quarter in the previous year, the company earned $0.25 EPS. The business’s revenue was up 5.5% compared to the same quarter last year.

CVLT has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of CommVault Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies reiterated a “buy” rating and issued a $74.00 target price on shares of CommVault Systems in a research note on Friday, September 1st. 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 note on Tuesday, July 25th. KeyCorp reiterated a “buy” rating and issued a $70.00 target price on shares of CommVault Systems in a research note on Friday, September 1st. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $67.00 target price on shares of CommVault Systems in a research note on Monday, September 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. CommVault Systems currently has a consensus rating of “Buy” and a consensus target price of $70.67.

Shares of CommVault Systems (NASDAQ:CVLT) opened at $53.80 on Wednesday. CommVault Systems has a one year low of $47.61 and a one year high of $64.60.

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In other CommVault Systems news, insider Gary Merrill sold 7,260 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $62.28, for a total transaction of $452,152.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian Carolan sold 4,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $61.90, for a total transaction of $247,600.00. The disclosure for this sale can be found here. 13.40% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of CommVault Systems by 1.0% in the second quarter. BlackRock Inc. now owns 4,282,750 shares of the software maker’s stock worth $241,762,000 after buying an additional 43,400 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of CommVault Systems by 0.9% in the second quarter. Vanguard Group Inc. now owns 3,381,007 shares of the software maker’s stock worth $190,857,000 after buying an additional 29,189 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CommVault Systems by 36.9% in the third quarter. Bank of New York Mellon Corp now owns 1,779,168 shares of the software maker’s stock worth $108,173,000 after buying an additional 479,659 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of CommVault Systems by 32.0% in the second quarter. Renaissance Technologies LLC now owns 1,555,213 shares of the software maker’s stock worth $87,792,000 after buying an additional 377,313 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of CommVault Systems by 3.8% in the second quarter. State Street Corp now owns 1,427,204 shares of the software maker’s stock worth $80,565,000 after buying an additional 52,276 shares in the last quarter. 87.19% of the stock is currently owned by hedge funds and other institutional investors.

About CommVault Systems

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

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