CommVault Systems, Inc. (NASDAQ:CVLT) – Research analysts at Jefferies Group lowered their Q4 2018 earnings per share (EPS) estimates for CommVault Systems in a research report issued to clients and investors on Wednesday. Jefferies Group analyst J. Difucci now anticipates that the software maker will earn $0.05 per share for the quarter, down from their prior forecast of $0.08. Jefferies Group currently has a “Buy” rating on the stock.
CommVault Systems (NASDAQ:CVLT) last posted its quarterly earnings results on Wednesday, January 24th. The software maker reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). CommVault Systems had a negative net margin of 8.30% and a positive return on equity of 0.32%. The business had revenue of $180.37 million during the quarter, compared to analyst estimates of $182.01 million. During the same period in the previous year, the business posted $0.28 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year.
CVLT has been the topic of a number of other reports. Royal Bank of Canada reissued a “hold” rating on shares of CommVault Systems in a report on Monday, October 9th. UBS Group downgraded shares of CommVault Systems from an “overweight” rating to a “neutral” rating in a report on Tuesday, October 24th. Lake Street Capital reissued a “buy” rating and issued a $58.00 price target (down from $60.00) on shares of CommVault Systems in a report on Thursday, January 25th. BidaskClub raised shares of CommVault Systems from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Wells Fargo & Co began coverage on shares of CommVault Systems in a report on Tuesday, November 14th. They issued an “outperform” rating and a $64.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. CommVault Systems presently has an average rating of “Hold” and a consensus price target of $69.78.
CommVault Systems (CVLT) traded down $0.48 on Monday, reaching $53.32. 162,798 shares of the company’s stock were exchanged, compared to its average volume of 536,977. CommVault Systems has a 1 year low of $47.61 and a 1 year high of $64.60.
CommVault Systems announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 24th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the software maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
Institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC raised its stake in CommVault Systems by 70.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,563 shares of the software maker’s stock valued at $145,000 after acquiring an additional 1,063 shares during the period. Magnetar Financial LLC bought a new stake in CommVault Systems in the 3rd quarter valued at about $201,000. Teacher Retirement System of Texas bought a new stake in CommVault Systems in the 3rd quarter valued at about $215,000. Crow Point Partners LLC bought a new stake in CommVault Systems in the 3rd quarter valued at about $287,000. Finally, Virtu KCG Holdings LLC bought a new stake in CommVault Systems in the 2nd quarter valued at about $278,000. Institutional investors and hedge funds own 88.13% of the company’s stock.
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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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