Equities analysts expect Veeva Systems Inc (NYSE:VEEV) to announce $0.21 earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Veeva Systems’ earnings, with the lowest EPS estimate coming in at $0.21 and the highest estimate coming in at $0.22. Veeva Systems reported earnings of $0.22 per share during the same quarter last year, which would indicate a negative year over year growth rate of 4.5%. The firm is expected to announce its next quarterly earnings results after the market closes on Tuesday, February 27th.
On average, analysts expect that Veeva Systems will report full year earnings of $0.91 per share for the current financial year, with EPS estimates ranging from $0.91 to $0.92. For the next year, analysts expect that the company will report earnings of $1.01 per share, with EPS estimates ranging from $0.99 to $1.05. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Veeva Systems.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. The company had revenue of $176.10 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 earnings per share.
VEEV has been the subject of a number of research reports. Vetr downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating and set a $61.05 price objective for the company. in a report on Thursday, February 15th. DA Davidson initiated coverage on shares of Veeva Systems in a report on Friday, February 2nd. They issued a “buy” rating and a $75.00 price objective for the company. Zacks Investment Research downgraded shares of Veeva Systems from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Morgan Stanley raised shares of Veeva Systems from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 30th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $67.54.
In related news, insider Eleni Nitsa Zuppas sold 1,338 shares of Veeva Systems stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $58.11, for a total transaction of $77,751.18. Following the sale, the insider now directly owns 10,699 shares in the company, valued at $621,718.89. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alan Mateo sold 532 shares of Veeva Systems stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $58.11, for a total transaction of $30,914.52. Following the sale, the executive vice president now owns 8,294 shares in the company, valued at $481,964.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 166,417 shares of company stock valued at $9,502,103. Corporate insiders own 17.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB raised its stake in shares of Veeva Systems by 7.7% during the fourth quarter. Xact Kapitalforvaltning AB now owns 18,061 shares of the technology company’s stock valued at $998,000 after purchasing an additional 1,296 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Veeva Systems by 19.5% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,114 shares of the technology company’s stock valued at $10,344,000 after purchasing an additional 30,535 shares in the last quarter. Westover Capital Advisors LLC bought a new stake in shares of Veeva Systems during the fourth quarter valued at about $237,000. Sterling Capital Management LLC raised its stake in shares of Veeva Systems by 6.4% during the fourth quarter. Sterling Capital Management LLC now owns 88,859 shares of the technology company’s stock valued at $4,912,000 after purchasing an additional 5,324 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of Veeva Systems by 5.8% during 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 in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.
Shares of Veeva Systems (VEEV) traded up $0.94 during trading hours on Friday, hitting $61.28. 409,077 shares of the company were exchanged, compared to its average volume of 1,007,024. The company has a market capitalization of $8,446.66, a price-to-earnings ratio of 71.31, a PEG ratio of 6.17 and a beta of 1.66. Veeva Systems has a fifty-two week low of $41.30 and a fifty-two week high of $68.07.
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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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