Equities research analysts forecast that Veeva Systems (NYSE:VEEV) will post $189.17 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Veeva Systems’ earnings. The lowest sales estimate is $188.37 million and the highest is $192.12 million. Veeva Systems reported sales of $157.92 million during the same quarter last year, which indicates a positive year over year growth rate of 19.8%. The business is expected to report its next earnings report on Thursday, May 24th.
According to Zacks, analysts expect that Veeva Systems will report full year sales of $189.17 million for the current financial year, with estimates ranging from $817.12 million to $824.15 million. For the next year, analysts anticipate that the firm will report sales of $961.06 million per share, with estimates ranging from $941.45 million to $971.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Veeva Systems.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $184.92 million for the quarter, compared to the consensus estimate of $180.13 million. Veeva Systems had a return on equity of 11.89% and a net margin of 20.71%.
Several equities research analysts have recently issued reports on VEEV shares. JMP Securities raised their price target on Veeva Systems from $74.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, March 23rd. Morgan Stanley raised Veeva Systems from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 30th. William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a research report on Wednesday, February 21st. KeyCorp reaffirmed an “overweight” rating and issued a $81.00 price target (up from $70.00) on shares of Veeva Systems in a research report on Friday, March 2nd. Finally, ValuEngine raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $72.23.
Shares of NYSE:VEEV opened at $73.28 on Tuesday. The stock has a market capitalization of $10,214.86, a PE ratio of 79.65, a price-to-earnings-growth ratio of 4.35 and a beta of 1.39. Veeva Systems has a 52-week low of $50.09 and a 52-week high of $78.28.
In related news, SVP Frederic Lequient sold 15,000 shares of Veeva Systems stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $62.00, for a total transaction of $930,000.00. Following the sale, the senior vice president now directly owns 15,000 shares of the company’s stock, valued at $930,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Paul J. Sekhri sold 1,108 shares of Veeva Systems stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $75.46, for a total value of $83,609.68. Following the sale, the director now directly owns 13,046 shares in the company, valued at $984,451.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,831 shares of company stock worth $13,440,162. 19.17% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings 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 purchasing an additional 112,539 shares in the last quarter. Swiss National Bank boosted its holdings in Veeva Systems by 0.9% during the fourth quarter. Swiss National Bank now owns 399,700 shares of the technology company’s stock valued at $22,095,000 after purchasing an additional 3,700 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Veeva Systems by 10.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 368,354 shares of the technology company’s stock valued at $20,363,000 after purchasing an additional 35,626 shares in the last quarter. Legal & General Group Plc boosted its holdings 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 purchasing an additional 20,600 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in Veeva Systems by 24.0% during the fourth quarter. M&T Bank Corp now owns 26,355 shares of the technology company’s stock valued at $1,458,000 after purchasing an additional 5,093 shares in the last quarter. 73.09% of the stock is currently owned by institutional investors.
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Veeva Systems Company Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.
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