Leerink Swann Weighs in on Veeva Systems Inc’s FY2019 Earnings (VEEV)

Veeva Systems Inc (NYSE:VEEV) – Equities research analysts at Leerink Swann issued their FY2019 earnings per share (EPS) estimates for shares of Veeva Systems in a report issued on Tuesday, December 4th. Leerink Swann analyst D. Larsen forecasts that the technology company will earn $1.21 per share for the year. Leerink Swann has a “Outperform” rating and a $120.00 price objective on the stock. Leerink Swann also issued estimates for Veeva Systems’ Q4 2019 earnings at $0.32 EPS, FY2020 earnings at $1.41 EPS and FY2021 earnings at $1.76 EPS.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, November 28th. The technology company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.05. The business had revenue of $224.70 million during the quarter, compared to the consensus estimate of $216.04 million. Veeva Systems had a net margin of 23.61% and a return on equity of 16.20%. The company’s revenue was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS.

Other analysts also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective (up previously from $90.00) on shares of Veeva Systems in a research report on Friday, August 24th. DA Davidson boosted their price objective on shares of Veeva Systems to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Canaccord Genuity boosted their price objective on shares of Veeva Systems from $85.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Finally, KeyCorp restated a “buy” rating on shares of Veeva Systems in a research report on Thursday, August 23rd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $102.94.

Shares of NYSE:VEEV opened at $88.56 on Thursday. The company has a market cap of $13.34 billion, a PE ratio of 96.26, a P/E/G ratio of 4.00 and a beta of 1.65. Veeva Systems has a twelve month low of $52.17 and a twelve month high of $109.05.

A number of institutional investors and hedge funds have recently made changes to their positions in VEEV. BNP Paribas Arbitrage SA boosted its holdings in shares of Veeva Systems by 42.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 26,607 shares of the technology company’s stock valued at $2,045,000 after acquiring an additional 7,963 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Veeva Systems by 15.4% during the 2nd quarter. Alps Advisors Inc. now owns 8,209 shares of the technology company’s stock valued at $454,000 after acquiring an additional 1,093 shares in the last quarter. Aperio Group LLC boosted its holdings in shares of Veeva Systems by 10.1% during the 2nd quarter. Aperio Group LLC now owns 15,613 shares of the technology company’s stock valued at $1,200,000 after acquiring an additional 1,431 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Veeva Systems by 82.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 55,799 shares of the technology company’s stock valued at $4,289,000 after acquiring an additional 25,154 shares in the last quarter. Finally, TD Asset Management Inc. boosted its holdings in shares of Veeva Systems by 98.4% during the 2nd quarter. TD Asset Management Inc. now owns 103,975 shares of the technology company’s stock valued at $7,992,000 after acquiring an additional 51,565 shares in the last quarter. 76.66% of the stock is currently owned by institutional investors.

In other news, EVP Alan Mateo sold 538 shares of Veeva Systems stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $98.55, for a total value of $53,019.90. Following the transaction, the executive vice president now directly owns 25,167 shares of the company’s stock, valued at approximately $2,480,207.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Matthew J. Wallach sold 12,000 shares of Veeva Systems stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $90.72, for a total transaction of $1,088,640.00. Following the completion of the transaction, the president now directly owns 12,000 shares in the company, valued at $1,088,640. The disclosure for this sale can be found here. Insiders sold a total of 79,672 shares of company stock worth $7,896,968 over the last ninety days. Corporate insiders own 15.97% of the company’s stock.

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, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Earnings History and Estimates for Veeva Systems (NYSE:VEEV)

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