Veeva Systems Inc. (VEEV) Research Coverage Started at Goldman Sachs Group Inc.
Analysts at Goldman Sachs Group Inc. assumed coverage on shares of Veeva Systems Inc. (NYSE:VEEV) in a research note issued on Tuesday. The firm set a “neutral” rating and a $43.00 price target on the stock. Goldman Sachs Group Inc.’s target price would indicate a potential upside of 10.71% from the stock’s previous close.
VEEV has been the subject of a number of other reports. Citigroup Inc. raised their target price on shares of Veeva Systems from $31.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, August 23rd. Canaccord Genuity reissued a “hold” rating and issued a $43.00 target price (up from $35.00) on shares of Veeva Systems in a report on Monday, August 29th. Bank of America Corp. reissued a “hold” rating and issued a $44.00 target price on shares of Veeva Systems in a report on Friday, September 30th. Raymond James Financial Inc. assumed coverage on shares of Veeva Systems in a report on Wednesday, August 24th. They issued a “market perform” rating for the company. Finally, Morgan Stanley raised their price target on Veeva Systems from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 31st. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Veeva Systems presently has an average rating of “Buy” and a consensus price target of $41.46.
Shares of Veeva Systems (NYSE:VEEV) traded down 0.41% on Tuesday, reaching $38.84. 1,540,140 shares of the company’s stock were exchanged. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 104.97 and a beta of 1.58. Veeva Systems has a one year low of $19.97 and a one year high of $42.58. The company’s 50 day moving average is $40.34 and its 200-day moving average is $33.98.
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Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Tuesday, August 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Veeva Systems had a net margin of 11.33% and a return on equity of 11.26%. The business earned $131.30 million during the quarter, compared to analyst estimates of $126.61 million. During the same period last year, the firm posted $0.13 EPS. The company’s revenue was up 33.8% on a year-over-year basis. On average, analysts anticipate that Veeva Systems will post $0.60 EPS for the current year.
In related news, insider Eleni Nitsa Zuppas sold 937 shares of Veeva Systems stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $40.50, for a total value of $37,948.50. Following the completion of the sale, the insider now directly owns 8,321 shares in the company, valued at $337,000.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald E. F. Codd sold 2,000 shares of Veeva Systems stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $40.31, for a total value of $80,620.00. Following the completion of the sale, the director now owns 3,569 shares of the company’s stock, valued at $143,866.39. The disclosure for this sale can be found here. Insiders own 19.17% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in VEEV. Huntington National Bank purchased a new stake in Veeva Systems during the second quarter valued at $101,000. FineMark National Bank & Trust increased its stake in Veeva Systems by 12.7% in the second quarter. FineMark National Bank & Trust now owns 3,060 shares of the company’s stock valued at $104,000 after buying an additional 346 shares during the last quarter. Legal & General Group Plc increased its stake in Veeva Systems by 38.0% in the first quarter. Legal & General Group Plc now owns 6,367 shares of the company’s stock valued at $160,000 after buying an additional 1,752 shares during the last quarter. DIAM Co. Ltd. purchased a new stake in Veeva Systems during the second quarter valued at $170,000. Finally, Denver Investment Advisors LLC purchased a new stake in Veeva Systems during the second quarter valued at $204,000. Hedge funds and other institutional investors own 70.67% of the company’s stock.
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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