Veeva Systems Inc (VEEV) Receives Average Recommendation of “Buy” from Brokerages

Shares of Veeva Systems Inc (NYSE:VEEV) have earned an average recommendation of “Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $67.51.

Several research firms have commented on VEEV. Vetr raised Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price objective for the company in a research note on Thursday, February 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a research note on Wednesday, December 6th. DA Davidson began coverage on Veeva Systems in a research note on Friday, February 2nd. They set a “buy” rating and a $75.00 price objective for the company. Zacks Investment Research downgraded Veeva Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, BidaskClub raised Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 20th.

Shares of Veeva Systems (NYSE VEEV) opened at $56.90 on Wednesday. The company has a market capitalization of $8,040.00, a P/E ratio of 62.53, a price-to-earnings-growth ratio of 5.72 and a beta of 1.66. Veeva Systems has a one year low of $41.30 and a one year high of $68.07.

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

In other Veeva Systems news, Director Gordon Ritter sold 9,600 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $60.72, for a total transaction of $582,912.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Frederic Lequient sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.00, for a total value of $930,000.00. Following the transaction, the senior vice president now owns 15,000 shares in the company, valued at approximately $930,000. The disclosure for this sale can be found here. Insiders have sold a total of 152,017 shares of company stock worth $8,708,375 in the last quarter. 17.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its holdings in shares of Veeva Systems by 80.7% in the 4th quarter. Renaissance Technologies LLC now owns 635,200 shares of the technology company’s stock worth $35,114,000 after acquiring an additional 283,688 shares during the period. Avalon Global Asset Management LLC grew its holdings in shares of Veeva Systems by 16.7% in the 4th quarter. Avalon Global Asset Management LLC now owns 70,000 shares of the technology company’s stock worth $3,870,000 after acquiring an additional 10,000 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Veeva Systems in the 4th quarter worth approximately $232,000. ETRADE Capital Management LLC grew its holdings in shares of Veeva Systems by 35.6% in the 4th quarter. ETRADE Capital Management LLC now owns 9,515 shares of the technology company’s stock worth $526,000 after acquiring an additional 2,499 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of Veeva Systems by 101.8% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 218,940 shares of the technology company’s stock worth $12,102,000 after acquiring an additional 110,467 shares during the period. Institutional investors own 69.89% 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.

Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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