Veeva Systems Inc. (VEEV) Coverage Initiated by Analysts at JMP Securities
Analysts at JMP Securities initiated coverage on shares of Veeva Systems Inc. (NYSE:VEEV) in a report released on Thursday. The firm set a “market perform” rating on the stock.
VEEV has been the topic of a number of other research reports. Stifel Nicolaus increased their target price on Veeva Systems from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, September 30th. Bank of America Corp. reissued 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 reissued 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. assumed coverage on Veeva Systems in a research note on Tuesday, October 4th. They issued a “neutral” rating and a $43.00 target price on the stock. Finally, Pacific Crest set a $42.00 target price on Veeva Systems and gave the company 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 given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $41.46.
Veeva Systems (NYSE:VEEV) opened at 37.75 on Thursday. The firm has a market capitalization of $5.14 billion, a P/E ratio of 102.03 and a beta of 1.58. The stock has a 50 day moving average price of $40.22 and a 200-day moving average price of $34.26. Veeva Systems has a 52 week low of $19.97 and a 52 week high of $42.58.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/13/veeva-systems-inc-veev-coverage-initiated-by-analysts-at-jmp-securities.html
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Tuesday, August 30th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $131.30 million for the quarter, compared to analysts’ expectations of $126.61 million. Veeva Systems had a net margin of 11.33% and a return on equity of 11.26%. The business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Analysts anticipate that Veeva Systems will post $0.60 EPS for the current fiscal year.
In other Veeva Systems news, Director Ronald E. F. Codd sold 2,000 shares of the firm’s 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 directly owns 3,569 shares in the company, valued at $143,866.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Matthew J. Wallach sold 84,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $36.33, for a total transaction of $3,051,720.00. Following the completion of the sale, the president now owns 42,000 shares of the company’s stock, valued at $1,525,860. The disclosure for this sale can be found here. Insiders own 19.17% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Veeva Systems by 26.0% in the second quarter. Vanguard Group Inc. now owns 6,180,083 shares of the company’s stock valued at $210,865,000 after buying an additional 1,276,212 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Veeva Systems by 21.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,388,888 shares of the company’s stock valued at $81,509,000 after buying an additional 413,972 shares during the period. Lord Abbett & CO. LLC raised its stake in shares of Veeva Systems by 124.4% in the second quarter. Lord Abbett & CO. LLC now owns 2,274,863 shares of the company’s stock valued at $77,618,000 after buying an additional 1,261,115 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Veeva Systems during the second quarter valued at approximately $75,081,000. Finally, Riverbridge Partners LLC raised its stake in shares of Veeva Systems by 1.4% in the second quarter. Riverbridge Partners LLC now owns 1,981,733 shares of the company’s stock valued at $67,617,000 after buying an additional 26,740 shares during the period. Institutional investors and hedge funds own 70.67% of the company’s stock.
About Veeva Systems
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.
Receive News & Ratings for Veeva Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.