Equities research analysts expect CommVault Systems, Inc. (NASDAQ:CVLT) to post sales of $187.13 million for the current quarter, according to Zacks. Four analysts have issued estimates for CommVault Systems’ earnings, with estimates ranging from $187.00 million to $187.30 million. CommVault Systems reported sales of $172.93 million in the same quarter last year, which indicates a positive year over year growth rate of 8.2%. The business is expected to announce its next earnings results on Wednesday, May 2nd.
On average, analysts expect that CommVault Systems will report full year sales of $187.13 million for the current year, with estimates ranging from $701.50 million to $701.80 million. For the next year, analysts forecast that the business will post sales of $777.48 million per share, with estimates ranging from $772.00 million to $780.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for CommVault Systems.
CommVault Systems (NASDAQ:CVLT) last posted its earnings results on Wednesday, January 24th. The software maker reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). The company had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $182.01 million. CommVault Systems had a negative net margin of 8.30% and a positive return on equity of 0.32%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS.
A number of brokerages have recently issued reports on CVLT. Zacks Investment Research downgraded CommVault Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Lake Street Capital reiterated a “buy” rating and set a $58.00 price target (down previously from $60.00) on shares of CommVault Systems in a research report on Thursday, January 25th. Mizuho reiterated a “buy” rating and set a $75.00 price target on shares of CommVault Systems in a research report on Tuesday, January 23rd. Finally, BidaskClub upgraded CommVault Systems from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $69.78.
In related news, insider Gary Merrill sold 3,335 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $54.40, for a total value of $181,424.00. Following the completion of the sale, the insider now owns 18,771 shares in the company, valued at approximately $1,021,142.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert F. Kurimsky sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $50.32, for a total value of $377,400.00. Following the completion of the sale, the director now owns 62,339 shares of the company’s stock, valued at approximately $3,136,898.48. The disclosure for this sale can be found here. Insiders sold a total of 289,737 shares of company stock valued at $14,770,440 in the last 90 days. 13.40% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Cornerstone Capital Management Holdings LLC. lifted its position in CommVault Systems by 72.3% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 74,100 shares of the software maker’s stock worth $4,505,000 after buying an additional 31,100 shares during the last quarter. Cortina Asset Management LLC lifted its position in CommVault Systems by 6.1% in the 3rd quarter. Cortina Asset Management LLC now owns 516,158 shares of the software maker’s stock worth $31,382,000 after buying an additional 29,894 shares during the last quarter. Ashford Capital Management Inc. bought a new stake in CommVault Systems in the third quarter valued at approximately $8,306,000. Bank of New York Mellon Corp lifted its position in 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 valued at $108,173,000 after purchasing an additional 479,659 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new stake in CommVault Systems in the third quarter valued at approximately $307,000. Institutional investors own 90.07% of the company’s stock.
Shares of CommVault Systems (NASDAQ CVLT) opened at $58.55 on Friday. The stock has a market capitalization of $2,514.52, a PE ratio of -46.47, a PEG ratio of 89.52 and a beta of 1.31. CommVault Systems has a 12-month low of $48.30 and a 12-month high of $64.60.
CommVault Systems announced that its board has authorized a share buyback program on Wednesday, January 24th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the software maker to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
CommVault Systems Company Profile
Commvault Systems, Inc (Commvault) is a provider of data and information management software applications and related services. The Company develops, markets and sells a suite of software applications and services, primarily in North America, Europe, Australia and Asia, that provides its customers with data protection solutions supporting all operating systems, applications, and databases on virtual and physical servers, Network Attached Storage (NAS) shares, cloud-based infrastructures, and mobile devices; management through a single console; multiple protection methods, including backup and archive, snapshot management, replication, and content indexing for eDiscovery; storage management using deduplication for disk, tape and cloud; integration with the storage arrays; complete virtual infrastructure management supporting multiple hypervisors; security capabilities to limit access to critical data, and policy-based data management.
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