Veeva Systems Inc. (VEEV) Coverage Initiated by Analysts at JMP Securities
Stock analysts at JMP Securities began coverage on shares of Veeva Systems Inc. (NYSE:VEEV) in a research note issued to investors on Thursday. The brokerage set a “market perform” rating on the stock.
Several other brokerages have also issued reports on VEEV. Stifel Nicolaus upped their target price on Veeva Systems from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, September 30th. Bank of America Corp. reaffirmed a “hold” rating and issued a $44.00 target price on shares of Veeva Systems in a research note on Friday, September 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 target price (up previously from $43.00) on shares of Veeva Systems in a research note on Friday, September 30th. Goldman Sachs Group Inc. began coverage on Veeva Systems in a research note on Tuesday, October 4th. They issued a “neutral” rating and a $43.00 target price for the company. Finally, Pacific Crest set a $42.00 target price on Veeva Systems and gave the stock a “buy” rating in a research note on Wednesday, August 31st. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Veeva Systems presently has an average rating of “Hold” and a consensus price target of $41.46.
Shares of Veeva Systems (NYSE:VEEV) opened at 37.75 on Thursday. The firm has a market cap of $5.14 billion, a P/E ratio of 102.03 and a beta of 1.58. The stock’s 50 day moving average is $40.22 and its 200 day moving average is $34.26. Veeva Systems has a 12 month low of $19.97 and a 12 month high of $42.58.
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Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Tuesday, August 30th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The company earned $131.30 million during the quarter, compared to analyst estimates of $126.61 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Veeva Systems’s revenue was up 33.8% on a year-over-year basis. Equities research analysts expect that Veeva Systems will post $0.60 EPS for the current year.
In other Veeva Systems news, President Matthew J. Wallach sold 84,000 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $36.33, for a total value of $3,051,720.00. Following the completion of the transaction, the president now owns 42,000 shares in the company, valued at $1,525,860. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronald E. F. Codd sold 2,000 shares of the stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $40.31, for a total value of $80,620.00. Following the completion of the transaction, the director now owns 3,569 shares of the company’s stock, valued at approximately $143,866.39. The disclosure for this sale can be found here. 19.17% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in VEEV. Huntington National Bank bought a new stake in Veeva Systems during the second quarter worth approximately $101,000. FineMark National Bank & Trust boosted 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 worth $104,000 after buying an additional 346 shares in the last quarter. Legal & General Group Plc boosted 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 worth $160,000 after buying an additional 1,752 shares in the last quarter. DIAM Co. Ltd. bought a new stake in Veeva Systems during the second quarter worth approximately $170,000. Finally, Parametrica Management Ltd bought a new stake in Veeva Systems during the first quarter worth approximately $202,000. 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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