Veeva Systems (NYSE:VEEV) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, January 30th, MarketBeat reports.
Several other brokerages have also issued reports on VEEV. BidaskClub upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 20th. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price target on shares of Veeva Systems in a report on Wednesday, December 6th. Zacks Investment Research upgraded Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Wednesday, October 11th. Stifel Nicolaus reissued a “buy” rating and issued a $67.00 price objective on shares of Veeva Systems in a research note on Friday, October 13th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Veeva Systems in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $67.54.
Shares of Veeva Systems (VEEV) opened at $57.90 on Tuesday. Veeva Systems has a twelve month low of $41.30 and a twelve month high of $68.07. The stock has a market capitalization of $8,180.00, a PE ratio of 63.63, a PEG ratio of 5.85 and a beta of 1.66.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.09. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The company had revenue of $176.10 million for the quarter, compared to analysts’ expectations of $171.99 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. equities analysts predict that Veeva Systems will post 0.68 EPS for the current fiscal year.
In other news, EVP Alan Mateo sold 532 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $58.11, for a total transaction of $30,914.52. Following the completion of the sale, the executive vice president now owns 8,294 shares in the company, valued at approximately $481,964.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Frederic Lequient sold 2,875 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $57.32, for a total transaction of $164,795.00. Following the sale, the senior vice president now owns 3,399 shares of the company’s stock, valued at approximately $194,830.68. The disclosure for this sale can be found here. Insiders sold a total of 166,417 shares of company stock worth $9,502,103 over the last ninety days. 17.50% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. QS Investors LLC lifted its position in shares of Veeva Systems by 0.5% during the 2nd quarter. QS Investors LLC now owns 3,832 shares of the technology company’s stock worth $235,000 after purchasing an additional 19 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Veeva Systems by 2.6% in the third quarter. Great West Life Assurance Co. Can now owns 34,106 shares of the technology company’s stock valued at $1,922,000 after purchasing an additional 865 shares during the period. Flagship Harbor Advisors LLC increased its stake in Veeva Systems by 26.8% in the third quarter. Flagship Harbor Advisors LLC now owns 4,226 shares of the technology company’s stock valued at $248,000 after purchasing an additional 893 shares during the period. The Manufacturers Life Insurance Company increased its stake in Veeva Systems by 21.7% in the second quarter. The Manufacturers Life Insurance Company now owns 5,131 shares of the technology company’s stock valued at $315,000 after purchasing an additional 914 shares during the period. Finally, LPL Financial LLC increased its stake in Veeva Systems by 5.8% in the fourth quarter. LPL Financial LLC now owns 20,166 shares of the technology company’s stock valued at $1,115,000 after purchasing an additional 1,111 shares during the period. 69.89% of the stock is owned by institutional investors and hedge funds.
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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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