Q3 2018 EPS Estimates for CommVault Systems, Inc. Cut by Analyst (NASDAQ:CVLT)

CommVault Systems, Inc. (NASDAQ:CVLT) – Analysts at Jefferies Group decreased their Q3 2018 EPS estimates for shares of CommVault Systems in a research note issued to investors on Tuesday, Zacks Investment Research reports. Jefferies Group analyst J. Difucci now anticipates that the software maker will post earnings per share of $0.04 for the quarter, down from their prior forecast of $0.08. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for CommVault Systems’ Q4 2018 earnings at $0.08 EPS.

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

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CVLT has been the topic of a number of other reports. Zacks Investment Research cut shares of CommVault Systems from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Piper Jaffray Companies restated a “buy” rating and issued a $74.00 price target on shares of CommVault Systems in a report 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 report on Tuesday, July 25th. KeyCorp reiterated a “buy” rating and set a $70.00 target price on shares of CommVault Systems in a report on Friday, September 1st. Finally, BidaskClub cut shares of CommVault Systems from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $70.67.

CommVault Systems (NASDAQ CVLT) opened at $54.30 on Friday. CommVault Systems has a 1-year low of $47.61 and a 1-year high of $64.60.

In related news, VP Brian Carolan sold 4,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $61.90, for a total value of $247,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Merrill sold 3,072 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $59.01, for a total transaction of $181,278.72. Following the completion of the transaction, the insider now directly owns 23,878 shares of the company’s stock, valued at $1,409,040.78. The disclosure for this sale can be found here. Insiders sold a total of 14,332 shares of company stock worth $881,032 over the last 90 days. Company insiders own 13.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in CVLT. BlackRock Inc. raised its position in shares of CommVault Systems by 23,286.9% in the 1st quarter. BlackRock Inc. now owns 4,239,350 shares of the software maker’s stock valued at $215,359,000 after purchasing an additional 4,221,223 shares during the last quarter. FMR LLC purchased a new position in shares of CommVault Systems in the 2nd quarter valued at approximately $28,624,000. Bank of New York Mellon Corp raised its position in shares of CommVault Systems by 36.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,779,168 shares of the software maker’s stock valued at $108,173,000 after purchasing an additional 479,659 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of CommVault Systems by 32.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,555,213 shares of the software maker’s stock valued at $87,792,000 after purchasing an additional 377,313 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in shares of CommVault Systems in the 2nd quarter valued at approximately $15,546,000. 85.91% of the stock is owned by hedge funds and other institutional investors.

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

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