$187.13 Million in Sales Expected for CommVault Systems, Inc. (CVLT) This Quarter
Analysts forecast that CommVault Systems, Inc. (NASDAQ:CVLT) will announce $187.13 million in sales 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 would suggest a positive year-over-year growth rate of 8.2%. The company is scheduled to report its next earnings report on Wednesday, May 2nd.
On average, analysts expect that CommVault Systems will report full year sales of $187.13 million for the current financial year, with estimates ranging from $701.50 million to $701.80 million. For the next year, analysts expect that the business will post sales of $777.48 million per share, with estimates ranging from $772.00 million to $780.20 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for CommVault Systems.
CommVault Systems (NASDAQ:CVLT) last announced its quarterly earnings data on Wednesday, January 24th. The software maker reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). The firm had revenue of $180.37 million for the quarter, compared to the consensus estimate of $182.01 million. CommVault Systems had a positive return on equity of 0.32% and a negative net margin of 8.30%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share.
In other news, insider Gary Merrill sold 900 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $52.25, for a total value of $47,025.00. Following the completion of the sale, the insider now directly owns 19,075 shares of the company’s stock, valued at approximately $996,668.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David F. Walker sold 5,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $55.48, for a total value of $305,140.00. Following the completion of the sale, the director now directly owns 42,850 shares of the company’s stock, valued at $2,377,318. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,235 shares of company stock valued at $934,839. 13.40% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in CVLT. FMR LLC bought a new stake in shares of CommVault Systems in the 2nd quarter valued at about $28,624,000. Bank of New York Mellon Corp increased its stake in CommVault Systems by 36.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,779,168 shares of the software maker’s stock worth $108,173,000 after purchasing an additional 479,659 shares in the last quarter. Wells Fargo & Company MN increased its stake in CommVault Systems by 193.8% during the 4th quarter. Wells Fargo & Company MN now owns 545,215 shares of the software maker’s stock worth $28,624,000 after purchasing an additional 359,612 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in CommVault Systems by 92.4% during the 4th quarter. TIAA CREF Investment Management LLC now owns 457,712 shares of the software maker’s stock worth $24,030,000 after purchasing an additional 219,804 shares in the last quarter. Finally, Lunia Capital LP bought a new stake in CommVault Systems during the 4th quarter worth approximately $10,578,000. 91.21% of the stock is owned by institutional investors.
Shares of CommVault Systems (CVLT) traded down $0.25 during trading hours on Friday, reaching $52.50. The company’s stock had a trading volume of 405,523 shares, compared to its average volume of 614,867. CommVault Systems has a 12-month low of $48.08 and a 12-month high of $64.60.
CommVault Systems announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 24th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
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About CommVault Systems
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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