CommVault Systems, Inc. (NASDAQ:CVLT) – Equities research analysts at Piper Jaffray Companies reduced their Q3 2020 earnings per share (EPS) estimates for shares of CommVault Systems in a report issued on Monday, February 11th, Zacks Investment Research reports. Piper Jaffray Companies analyst A. Nowinski now forecasts that the software maker will earn $0.40 per share for the quarter, down from their prior forecast of $0.42. Piper Jaffray Companies has a “Neutral” rating and a $66.00 price objective on the stock. Piper Jaffray Companies also issued estimates for CommVault Systems’ Q4 2020 earnings at $0.45 EPS, FY2020 earnings at $1.37 EPS, Q1 2021 earnings at $0.39 EPS, Q2 2021 earnings at $0.39 EPS, Q3 2021 earnings at $0.56 EPS and FY2021 earnings at $1.95 EPS.
CommVault Systems (NASDAQ:CVLT) last released its earnings results on Tuesday, January 29th. The software maker reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.12. The company had revenue of $184.28 million during the quarter, compared to analysts’ expectations of $180.66 million. CommVault Systems had a return on equity of 5.78% and a net margin of 0.57%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS.
Several other research firms have also issued reports on CVLT. ValuEngine raised CommVault Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. BidaskClub raised CommVault Systems from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Zacks Investment Research lowered CommVault Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Finally, Lake Street Capital upped their price target on CommVault Systems to $69.00 and gave the company a “buy” rating in a research report on Wednesday, January 30th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $75.00.
CVLT stock opened at $67.44 on Wednesday. The company has a market cap of $3.11 billion, a P/E ratio of -114.31, a PEG ratio of 5.66 and a beta of 1.21. CommVault Systems has a 12-month low of $48.95 and a 12-month high of $72.65.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in CommVault Systems by 1.6% in the third quarter. Vanguard Group Inc. now owns 3,784,014 shares of the software maker’s stock worth $264,880,000 after buying an additional 57,893 shares during the period. MetLife Investment Advisors LLC increased its holdings in shares of CommVault Systems by 15.3% during the third quarter. MetLife Investment Advisors LLC now owns 51,370 shares of the software maker’s stock valued at $3,596,000 after purchasing an additional 6,830 shares during the period. Strs Ohio increased its holdings in shares of CommVault Systems by 1.5% during the fourth quarter. Strs Ohio now owns 19,700 shares of the software maker’s stock valued at $1,164,000 after purchasing an additional 300 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of CommVault Systems during the third quarter valued at $11,353,000. Finally, Vanguard Group Inc increased its holdings in shares of CommVault Systems by 1.6% during the third quarter. Vanguard Group Inc now owns 3,784,014 shares of the software maker’s stock valued at $264,880,000 after purchasing an additional 57,893 shares during the period. 88.64% of the stock is currently owned by hedge funds and other institutional investors.
In other CommVault Systems news, CEO N Robert Hammer sold 180,000 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $57.33, for a total value of $10,319,400.00. Following the sale, the chief executive officer now directly owns 2,799,411 shares of the company’s stock, valued at $160,490,232.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Al Bunte sold 64,167 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $67.82, for a total value of $4,351,805.94. Following the completion of the sale, the chief operating officer now directly owns 486,177 shares in the company, valued at $32,972,524.14. The disclosure for this sale can be found here. Insiders sold 253,052 shares of company stock worth $15,275,206 over the last ninety days. 13.40% of the stock is owned by corporate insiders.
About CommVault Systems
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.