Brokerages expect CommVault Systems, Inc. (NASDAQ:CVLT) to announce sales of $179.18 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for CommVault Systems’ earnings, with estimates ranging from $179.00 million to $179.50 million. CommVault Systems posted sales of $168.14 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.6%. The business is expected to announce its next earnings results before the market opens on Tuesday, October 30th.

On average, analysts expect that CommVault Systems will report full year sales of $746.72 million for the current fiscal year, with estimates ranging from $742.40 million to $748.80 million. For the next year, analysts forecast that the company will report sales of $807.48 million, with estimates ranging from $799.30 million to $824.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for CommVault Systems.

CommVault Systems (NASDAQ:CVLT) last announced its earnings results on Tuesday, July 24th. The software maker reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.09. CommVault Systems had a negative net margin of 9.89% and a positive return on equity of 0.72%. The business had revenue of $176.18 million during the quarter, compared to analysts’ expectations of $177.92 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis.

A number of equities analysts have weighed in on the stock. BidaskClub lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. ValuEngine lowered shares of CommVault Systems from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Zacks Investment Research lowered shares of CommVault Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, Mitsubishi UFJ Financial Group upped their price target on shares of CommVault Systems and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $76.57.

CVLT stock traded up $0.74 during midday trading on Wednesday, reaching $60.08. 297,908 shares of the company’s stock traded hands, compared to its average volume of 473,406. CommVault Systems has a 52-week low of $48.35 and a 52-week high of $72.65. The stock has a market cap of $3.20 billion, a P/E ratio of -101.83, a P/E/G ratio of 7.40 and a beta of 1.17.

In related news, SVP Ronald L. Miiller sold 101,521 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $65.34, for a total transaction of $6,633,382.14. Following the completion of the transaction, the senior vice president now owns 140,666 shares in the company, valued at $9,191,116.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Vivie Lee sold 860 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $69.75, for a total transaction of $59,985.00. Following the transaction, the director now owns 4,364 shares of the company’s stock, valued at approximately $304,389. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,729 shares of company stock valued at $6,845,943. Company insiders own 13.40% of the company’s stock.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of CommVault Systems by 5.7% during the second quarter. BlackRock Inc. now owns 4,691,145 shares of the software maker’s stock worth $308,910,000 after acquiring an additional 254,649 shares during the last quarter. FMR LLC raised its stake in CommVault Systems by 5.5% during the second quarter. FMR LLC now owns 1,787,322 shares of the software maker’s stock valued at $117,696,000 after purchasing an additional 93,309 shares in the last quarter. Renaissance Technologies LLC raised its stake in CommVault Systems by 17.3% during the second quarter. Renaissance Technologies LLC now owns 1,599,800 shares of the software maker’s stock valued at $105,347,000 after purchasing an additional 236,400 shares in the last quarter. ETF Managers Group LLC purchased a new stake in CommVault Systems during the first quarter valued at $62,229,000. Finally, Northern Trust Corp raised its stake in CommVault Systems by 3.1% during the second quarter. Northern Trust Corp now owns 654,209 shares of the software maker’s stock valued at $43,079,000 after purchasing an additional 19,564 shares in the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

CommVault Systems Company Profile

Commvault Systems, Inc provides data protection and information management software applications and related services in the United States, Canada, Latin America, Europe, the Middle East, Africa, Australia, New Zealand, Southeast Asia, and China. The company offers data protection, backup, and recovery software solutions for the backup of databases, files, applications, endpoints, and virtual machines according to data type and recovery profile; and help to optimize storage with deduplication, recover data, and leverage reports.

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

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