Veeva Systems Inc (NYSE:VEEV) – William Blair increased their FY2018 EPS estimates for shares of Veeva Systems in a research note issued on Wednesday. William Blair analyst A. Murphy now expects that the technology company will earn $0.68 per share for the year, up from their prior estimate of $0.65. William Blair also issued estimates for Veeva Systems’ FY2019 earnings at $0.74 EPS.
Several other research analysts also recently weighed in on the stock. Canaccord Genuity restated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research note on Wednesday, December 6th. Zacks Investment Research downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. BidaskClub upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 20th. Stifel Nicolaus reiterated a “buy” rating and set a $67.00 price objective on shares of Veeva Systems in a research note on Friday, October 13th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Veeva Systems in a research note on Thursday, October 12th. Five research 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 company presently has an average rating of “Buy” and a consensus target price of $67.45.
Shares of Veeva Systems (VEEV) traded up $0.58 during mid-day trading on Monday, hitting $56.64. 1,297,400 shares of the stock traded hands, compared to its average volume of 1,326,424. The stock has a market capitalization of $7,775.52, a P/E ratio of 95.02, a PEG ratio of 4.55 and a beta of 1.60. Veeva Systems has a fifty-two week low of $40.50 and a fifty-two week high of $68.07.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.09. The business had revenue of $176.10 million during the quarter, compared to the consensus estimate of $171.99 million. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share.
Several large investors have recently modified their holdings of VEEV. ETF Managers Group LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter worth about $101,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Veeva Systems in the 2nd quarter worth about $102,000. LS Investment Advisors LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter worth about $105,000. C M Bidwell & Associates Ltd. increased its holdings in shares of 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 acquiring an additional 2,300 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Veeva Systems by 77.2% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,952 shares of the technology company’s stock worth $181,000 after acquiring an additional 1,286 shares during the period. 72.38% of the stock is currently owned by institutional investors.
In other Veeva Systems news, SVP Jonathan Faddis sold 37,500 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $56.38, for a total transaction of $2,114,250.00. Following the sale, the senior vice president now directly owns 39,149 shares of the company’s stock, valued at $2,207,220.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gordon Ritter sold 9,600 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $61.03, for a total transaction of $585,888.00. The disclosure for this sale can be found here. Insiders have sold a total of 203,404 shares of company stock worth $11,747,583 over the last quarter. 17.50% of the stock is currently owned by insiders.
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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.
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