Veeva Systems Inc. (VEEV) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Veeva Systems Inc. (NYSE:VEEV) have been assigned an average rating of “Buy” from the sixteen research firms that are currently covering the stock. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $41.45.
A number of equities analysts have issued reports on the company. Zacks Investment Research lowered Veeva Systems from a “buy” rating to a “hold” rating in a research note on Monday, September 5th. Stifel Nicolaus increased their price objective on Veeva Systems from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, September 30th. Bank of America Corp. assumed coverage on Veeva Systems in a research report on Friday, June 17th. They set a “neutral” rating and a $40.00 price objective for the company. Goldman Sachs Group Inc. assumed coverage on Veeva Systems in a research report on Tuesday, October 4th. They set a “neutral” rating and a $43.00 price objective for the company. Finally, Needham & Company LLC increased their price objective on Veeva Systems from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 31st.
Veeva Systems (NYSE:VEEV) traded down 3.680% during midday trading on Tuesday, reaching $37.555. The company’s stock had a trading volume of 851,648 shares. Veeva Systems has a 12 month low of $19.97 and a 12 month high of $42.58. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 101.500 and a beta of 1.58. The stock’s 50-day moving average price is $40.32 and its 200-day moving average price is $34.21.
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Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results 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. The firm earned $131.30 million during the quarter, compared to analyst estimates of $126.61 million. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. Analysts predict that Veeva Systems will post $0.60 EPS for the current year.
In other Veeva Systems news, EVP Alan Mateo sold 44,177 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $40.55, for a total transaction of $1,791,377.35. Following the transaction, the executive vice president now directly owns 5,805 shares of the company’s stock, valued at $235,392.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eleni Nitsa Zuppas sold 937 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $40.50, for a total transaction of $37,948.50. Following the transaction, the insider now directly owns 8,321 shares in the company, valued at $337,000.50. The disclosure for this sale can be found here. Corporate insiders own 19.17% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Huntington National Bank acquired a new position in Veeva Systems during the second quarter valued at approximately $101,000. FineMark National Bank & Trust increased its position 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. DIAM Co. Ltd. acquired a new position in Veeva Systems during the second quarter valued at approximately $170,000. Denver Investment Advisors LLC acquired a new position in Veeva Systems during the second quarter valued at approximately $204,000. Finally, Legal & General Group Plc increased its position in Veeva Systems by 6.8% in the second quarter. Legal & General Group Plc now owns 6,800 shares of the company’s stock valued at $232,000 after buying an additional 433 shares during the last quarter. 70.67% of the stock is currently owned by hedge funds and other institutional investors.
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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