Veeva Systems (VEEV) Upgraded at Vetr

Veeva Systems (NYSE:VEEV) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday. The firm currently has a $61.05 target price on the technology company’s stock. Vetr‘s price target suggests a potential upside of 10.10% from the company’s previous close.

Several other equities analysts also recently issued reports on VEEV. DA Davidson assumed coverage on shares of Veeva Systems in a report on Friday, February 2nd. They set a “buy” rating and a $75.00 price objective on the stock. Zacks Investment Research downgraded shares of Veeva Systems from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Needham & Company LLC restated a “buy” rating on shares of Veeva Systems in a report on Thursday, October 12th. Morgan Stanley upgraded shares of Veeva Systems from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 30th. Finally, Stifel Nicolaus restated a “buy” rating and set a $67.00 price objective on shares of Veeva Systems in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $67.54.

Veeva Systems (NYSE VEEV) opened at $55.45 on Thursday. Veeva Systems has a fifty-two week low of $41.30 and a fifty-two week high of $68.07. The stock has a market cap of $7,837.47, a PE ratio of 64.48, a PEG ratio of 5.72 and a beta of 1.66.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. The firm had revenue of $176.10 million for the quarter, compared to the consensus estimate of $171.99 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. research analysts forecast that Veeva Systems will post 0.68 earnings per share for the current fiscal year.

In other Veeva Systems news, CFO Timothy S. Cabral sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $55.74, for a total value of $2,787,000.00. Following the sale, the chief financial officer now owns 50,000 shares in the company, valued at approximately $2,787,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Matthew J. Wallach sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $60.98, for a total value of $1,463,520.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 176,017 shares of company stock worth $10,171,895. 19.17% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its position in Veeva Systems by 6.1% in the 3rd quarter. First Trust Advisors LP now owns 2,212,827 shares of the technology company’s stock worth $124,826,000 after purchasing an additional 126,869 shares in the last quarter. State Street Corp boosted its position in Veeva Systems by 52.1% in the 2nd quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock worth $113,851,000 after purchasing an additional 635,842 shares in the last quarter. New York State Common Retirement Fund boosted its position in Veeva Systems by 2.2% in the 3rd quarter. New York State Common Retirement Fund now owns 1,619,820 shares of the technology company’s stock worth $91,374,000 after purchasing an additional 35,073 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Veeva Systems by 0.7% in the 4th quarter. Bank of New York Mellon Corp now owns 638,077 shares of the technology company’s stock worth $35,273,000 after purchasing an additional 4,568 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Veeva Systems by 85.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 606,728 shares of the technology company’s stock worth $34,226,000 after purchasing an additional 279,769 shares in the last quarter. Institutional investors and hedge funds own 70.84% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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