Wall Street analysts expect Veeva Systems Inc (NYSE:VEEV) to report $0.64 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Veeva Systems’ earnings. The highest EPS estimate is $0.65 and the lowest is $0.63. Veeva Systems posted earnings per share of $0.55 in the same quarter last year, which indicates a positive year-over-year growth rate of 16.4%. The business is expected to report its next quarterly earnings report on Tuesday, August 25th.
On average, analysts expect that Veeva Systems will report full year earnings of $2.55 per share for the current financial year, with EPS estimates ranging from $2.52 to $2.60. For the next financial year, analysts forecast that the business will report earnings of $3.01 per share, with EPS estimates ranging from $2.86 to $3.18. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Veeva Systems.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, May 28th. The technology company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.07. Veeva Systems had a net margin of 26.26% and a return on equity of 16.28%. The company had revenue of $337.11 million for the quarter, compared to analyst estimates of $291.10 million. During the same quarter last year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was up 37.7% compared to the same quarter last year.
A number of equities analysts have recently commented on VEEV shares. Needham & Company LLC started coverage on shares of Veeva Systems in a research report on Monday, June 8th. They issued a “buy” rating and a $235.00 price target on the stock. Morgan Stanley boosted their target price on shares of Veeva Systems from $226.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Robert W. Baird boosted their target price on shares of Veeva Systems from $242.00 to $256.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Barclays boosted their target price on shares of Veeva Systems from $176.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Finally, William Blair reaffirmed a “buy” rating on shares of Veeva Systems in a research report on Monday, June 1st. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $203.23.
Shares of NYSE:VEEV traded up $4.75 during trading on Thursday, reaching $234.94. The stock had a trading volume of 27,926 shares, compared to its average volume of 1,388,081. Veeva Systems has a 52 week low of $118.11 and a 52 week high of $244.10. The firm has a market capitalization of $34.36 billion, a price-to-earnings ratio of 116.26, a P/E/G ratio of 7.64 and a beta of 0.94. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.02. The stock has a fifty day simple moving average of $213.37 and a two-hundred day simple moving average of $168.38.
In related news, COO Thomas D. Schwenger sold 664 shares of Veeva Systems stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $148.56, for a total value of $98,643.84. Following the completion of the transaction, the chief operating officer now directly owns 3,980 shares of the company’s stock, valued at $591,268.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Eleni Nitsa Zuppas sold 242 shares of Veeva Systems stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $148.55, for a total value of $35,949.10. Following the completion of the transaction, the chief marketing officer now directly owns 10,705 shares of the company’s stock, valued at $1,590,227.75. The disclosure for this sale can be found here. Insiders sold a total of 83,105 shares of company stock worth $18,205,178 in the last 90 days. 13.17% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Veeva Systems by 0.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,972 shares of the technology company’s stock valued at $1,090,000 after acquiring an additional 56 shares during the period. GWM Advisors LLC increased its position in Veeva Systems by 1.2% during the 1st quarter. GWM Advisors LLC now owns 5,014 shares of the technology company’s stock worth $784,000 after buying an additional 59 shares during the period. OLD National Bancorp IN increased its position in Veeva Systems by 4.1% during the 1st quarter. OLD National Bancorp IN now owns 1,711 shares of the technology company’s stock worth $268,000 after buying an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Veeva Systems by 0.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 13,960 shares of the technology company’s stock worth $1,964,000 after purchasing an additional 73 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Veeva Systems by 45.6% during the 1st quarter. First Horizon Advisors Inc. now owns 233 shares of the technology company’s stock worth $35,000 after purchasing an additional 73 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.
About Veeva Systems
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 and data 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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