Veeva Systems (NYSE:VEEV)‘s stock had its “outperform” rating reiterated by equities researchers at William Blair in a note issued to investors on Wednesday.
A number of other analysts have also recently commented on the company. Vetr cut Veeva Systems from a “buy” rating to a “hold” rating and set a $61.05 price target for the company. in a research report on Thursday, February 15th. Zacks Investment Research cut Veeva Systems from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. DA Davidson began coverage on Veeva Systems in a research report on Friday, February 2nd. They issued a “buy” rating and a $75.00 price target for the company. Morgan Stanley upgraded Veeva Systems from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 30th. Finally, Canaccord Genuity restated a “buy” rating and issued a $70.00 price target on shares of Veeva Systems in a research report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Veeva Systems presently has an average rating of “Buy” and an average target price of $67.54.
Veeva Systems (NYSE VEEV) opened at $61.55 on Wednesday. Veeva Systems has a 1-year low of $41.30 and a 1-year high of $68.07. The firm has a market capitalization of $8,700.00, a PE ratio of 67.64, a price-to-earnings-growth ratio of 6.23 and a beta of 1.66.
Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $171.99 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. Veeva Systems’s revenue was up 23.3% on a year-over-year basis. equities analysts anticipate that Veeva Systems will post 0.68 earnings per share for the current fiscal year.
In related news, EVP Alan Mateo sold 532 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $58.11, for a total transaction of $30,914.52. Following the completion of the transaction, the executive vice president now directly owns 8,294 shares of the company’s stock, valued at $481,964.34. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Matthew J. Wallach sold 24,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $57.36, for a total value of $1,376,640.00. Following the transaction, the president now directly owns 24,000 shares of the company’s stock, valued at $1,376,640. The disclosure for this sale can be found here. Insiders have sold 166,417 shares of company stock valued at $9,502,103 in the last quarter. 19.17% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in Veeva Systems by 605.4% during the third quarter. IFP Advisors Inc now owns 13,347 shares of the technology company’s stock valued at $753,000 after buying an additional 11,455 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Veeva Systems by 255.5% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 156,579 shares of the technology company’s stock valued at $8,833,000 after buying an additional 112,539 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Veeva Systems by 133.5% during the third quarter. Dynamic Technology Lab Private Ltd now owns 31,420 shares of the technology company’s stock valued at $1,772,000 after buying an additional 17,962 shares during the last quarter. APG Asset Management N.V. bought a new position in Veeva Systems during the third quarter valued at approximately $931,000. Finally, Legal & General Group Plc boosted its stake in Veeva Systems by 17.8% during the third quarter. Legal & General Group Plc now owns 136,049 shares of the technology company’s stock valued at $7,674,000 after buying an additional 20,600 shares during the last quarter. 69.55% of the stock is owned by institutional investors.
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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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