BidaskClub upgraded shares of Veeva Systems Inc. (NYSE:VEEV) from a buy rating to a strong-buy rating in a research report report published on Friday, October 20th.
Several other analysts have also issued reports on VEEV. Needham & Company LLC reiterated a buy rating and issued a $70.00 target price on shares of Veeva Systems in a research note on Friday, August 25th. JMP Securities restated a buy rating and set a $70.00 price target on shares of Veeva Systems in a research report on Saturday, August 26th. Zacks Investment Research lowered shares of Veeva Systems from a strong-buy rating to a hold rating in a research report on Thursday, July 27th. KeyCorp restated a buy rating and set a $70.00 price target on shares of Veeva Systems in a research report on Friday, August 25th. Finally, Canaccord Genuity restated a buy rating and set a $70.00 price target on shares of Veeva Systems in a research report on Tuesday, August 22nd. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $65.75.
Shares of Veeva Systems (VEEV) opened at 59.44 on Friday. The firm has a market capitalization of $8.36 billion, a P/E ratio of 76.01 and a beta of 1.62. The stock’s 50 day moving average price is $57.63 and its 200 day moving average price is $59.48. Veeva Systems has a 52 week low of $37.34 and a 52 week high of $68.07.
Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The company had revenue of $166.59 million for the quarter, compared to the consensus estimate of $164.26 million. During the same quarter in the previous year, the company earned $0.15 EPS. Veeva Systems’s quarterly revenue was up 26.8% compared to the same quarter last year. On average, analysts predict that Veeva Systems will post $0.87 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This news story was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of United States and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2017/10/29/veeva-systems-inc-veev-raised-to-strong-buy-at-bidaskclub.html.
In other Veeva Systems news, Director Gordon Ritter sold 5,100 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $59.16, for a total transaction of $301,716.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Matthew J. Wallach sold 24,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $62.76, for a total value of $1,506,240.00. Following the transaction, the president now directly owns 24,000 shares of the company’s stock, valued at approximately $1,506,240. The disclosure for this sale can be found here. Insiders have sold 304,425 shares of company stock worth $17,776,992 over the last three months. Insiders own 19.17% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. ETF Managers Group LLC purchased a new position in Veeva Systems in the 2nd quarter worth about $101,000. Robeco Institutional Asset Management B.V. purchased a new position in Veeva Systems in the 2nd quarter worth about $102,000. LS Investment Advisors LLC purchased a new position in Veeva Systems in the 2nd quarter worth about $105,000. Huntington National Bank raised its position in Veeva Systems by 10.6% in the 2nd quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock worth $164,000 after buying an additional 256 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. raised its position in Veeva Systems by 460.0% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock worth $172,000 after buying an additional 2,300 shares during the last quarter. 71.61% of the stock is owned by hedge funds and other institutional investors.
About Veeva Systems
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
Receive News & Ratings for Veeva Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.