Veeva Systems Inc (NYSE:VEEV) – Equities research analysts at KeyCorp dropped their Q2 2019 earnings per share (EPS) estimates for shares of Veeva Systems in a research report issued on Tuesday. KeyCorp analyst B. Bracelin now expects that the technology company will earn $0.17 per share for the quarter, down from their prior estimate of $0.18. KeyCorp currently has a “Buy” rating and a $70.00 target price on the stock. KeyCorp also issued estimates for Veeva Systems’ Q4 2019 earnings at $0.21 EPS and FY2020 earnings at $0.92 EPS.
Veeva Systems (NYSE:VEEV) last released its earnings results on Tuesday, December 5th. The technology company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.09. Veeva Systems had a return on equity of 12.68% and a net margin of 19.97%. The firm had revenue of $176.10 million during the quarter, compared to analysts’ expectations of $171.99 million. During the same period in the previous year, the firm posted $0.22 EPS. Veeva Systems’s revenue for the quarter was up 23.3% on a year-over-year basis.
VEEV has been the subject of several other reports. BidaskClub raised Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Friday, August 25th. JMP Securities reissued a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Saturday, August 26th. Canaccord Genuity reissued a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Tuesday, August 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $67.00 target price on shares of Veeva Systems in a research note on Friday, October 13th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $67.45.
Veeva Systems (VEEV) traded up $1.53 on Friday, reaching $55.53. The company had a trading volume of 2,506,800 shares, compared to its average volume of 1,326,969. Veeva Systems has a 1 year low of $40.50 and a 1 year high of $68.07. The firm has a market cap of $7,810.00, a PE ratio of 91.53, a price-to-earnings-growth ratio of 4.42 and a beta of 1.60.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Veeva Systems by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 9,125,993 shares of the technology company’s stock valued at $559,515,000 after purchasing an additional 290,865 shares during the period. BlackRock Inc. boosted its position in shares of Veeva Systems by 44.9% in the 2nd quarter. BlackRock Inc. now owns 5,812,749 shares of the technology company’s stock valued at $356,379,000 after purchasing an additional 1,801,439 shares during the period. FMR LLC boosted its position in shares of Veeva Systems by 50.9% in the 2nd quarter. FMR LLC now owns 3,456,402 shares of the technology company’s stock valued at $211,912,000 after purchasing an additional 1,166,372 shares during the period. First Trust Advisors LP boosted its position in shares of Veeva Systems by 6.1% in the 3rd quarter. First Trust Advisors LP now owns 2,212,827 shares of the technology company’s stock valued at $124,826,000 after purchasing an additional 126,869 shares during the period. Finally, State Street Corp boosted its position in shares of Veeva Systems by 52.1% in the 2nd quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock valued at $113,851,000 after purchasing an additional 635,842 shares during the period. 72.38% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Jonathan Faddis sold 37,500 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $56.38, for a total transaction of $2,114,250.00. Following the completion of the transaction, the senior vice president now directly owns 39,149 shares of the company’s stock, valued at approximately $2,207,220.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alan Mateo sold 913 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $59.14, for a total value of $53,994.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 231,432 shares of company stock valued at $13,398,002. Insiders own 19.17% of the company’s stock.
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Veeva Systems Company Profile
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.
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