Zacks: Analysts Anticipate Commvault Systems, Inc. (NASDAQ:CVLT) Will Announce Earnings of $0.63 Per Share

Analysts forecast that Commvault Systems, Inc. (NASDAQ:CVLT – Get Rating) will announce $0.63 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Commvault Systems’ earnings, with the lowest EPS estimate coming in at $0.61 and the highest estimate coming in at $0.65. Commvault Systems posted earnings per share of $0.62 in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.6%. The firm is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Commvault Systems will report full year earnings of $2.86 per share for the current fiscal year, with EPS estimates ranging from $2.79 to $2.96. For the next fiscal year, analysts anticipate that the business will report earnings of $3.27 per share, with EPS estimates ranging from $3.12 to $3.35. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Commvault Systems.

Commvault Systems (NASDAQ:CVLT – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The software maker reported $0.75 EPS for the quarter, beating the consensus estimate of $0.64 by $0.11. The business had revenue of $205.95 million during the quarter, compared to analyst estimates of $201.98 million. Commvault Systems had a net margin of 4.37% and a return on equity of 15.55%. Commvault Systems’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 earnings per share.

Several research firms have recently issued reports on CVLT. Royal Bank of Canada raised their price objective on Commvault Systems from $66.00 to $75.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 26th. StockNews.com assumed coverage on shares of Commvault Systems in a research note on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, Lake Street Capital boosted their price objective on shares of Commvault Systems from $64.00 to $68.00 in a research report on Wednesday, January 26th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Commvault Systems presently has a consensus rating of “Buy” and an average price target of $80.33.

CVLT opened at $57.12 on Friday. The stock has a 50-day moving average of $63.37 and a 200 day moving average of $65.06. Commvault Systems has a 12 month low of $55.72 and a 12 month high of $84.22. The firm has a market cap of $2.55 billion, a P/E ratio of 80.45, a P/E/G ratio of 5.86 and a beta of 0.66.

In other Commvault Systems news, insider Gary Merrill sold 6,456 shares of the firm’s stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $64.46, for a total transaction of $416,153.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Allison Pickens sold 500 shares of the company’s stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $58.47, for a total value of $29,235.00. Following the completion of the sale, the director now owns 6,758 shares of the company’s stock, valued at $395,140.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,525 shares of company stock valued at $1,451,448. Corporate insiders own 0.99% of the company’s stock.

A number of institutional investors have recently modified their holdings of CVLT. Exchange Traded Concepts LLC purchased a new position in Commvault Systems during the 1st quarter valued at about $29,000. Huntington National Bank lifted its holdings in Commvault Systems by 33.4% during the fourth quarter. Huntington National Bank now owns 943 shares of the software maker’s stock worth $65,000 after buying an additional 236 shares during the period. Gladius Capital Management LP bought a new stake in Commvault Systems during the 4th quarter valued at $125,000. Point72 Hong Kong Ltd purchased a new position in shares of Commvault Systems in the 3rd quarter valued at $166,000. Finally, Keebeck Alpha LP purchased a new position in Commvault Systems in the fourth quarter valued at about $201,000. Institutional investors own 95.69% of the company’s stock.

About Commvault Systems (Get Rating)

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States and internationally. The company offers Commvault Backup and Recovery, a backup and recovery solution; Commvault Disaster Recovery, an easy-to-use replication and disaster recovery solution; and Commvault Complete Data Protection, an easy-to-use data protection solution.

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