Veeva Systems Inc (NYSE:VEEV) – Investment analysts at William Blair upped their Q4 2019 earnings per share (EPS) estimates for shares of Veeva Systems in a research note issued on Thursday, November 29th. William Blair analyst B. Suri now forecasts that the technology company will post earnings per share of $0.30 for the quarter, up from their previous forecast of $0.27. William Blair has a “Outperform” rating on the stock.
Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, November 28th. The technology company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. The company had revenue of $224.70 million for the quarter, compared to analysts’ expectations of $216.04 million. Veeva Systems had a return on equity of 16.20% and a net margin of 23.61%. The business’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS.
A number of other equities research analysts have also recently commented on VEEV. Guggenheim started coverage on Veeva Systems in a research note on Tuesday, August 7th. They set a “buy” rating and a $100.00 target price on the stock. Morgan Stanley lifted their target price on Veeva Systems from $85.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, August 16th. KeyCorp reiterated a “buy” rating on shares of Veeva Systems in a research note on Thursday, August 23rd. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $81.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, August 24th. Finally, JMP Securities lifted their target price on Veeva Systems from $80.00 to $95.00 and gave the stock a “market perform” rating in a research note on Friday, August 24th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $101.80.
NYSE VEEV opened at $96.16 on Monday. The firm has a market cap of $13.79 billion, a PE ratio of 104.52, a price-to-earnings-growth ratio of 4.53 and a beta of 1.64. Veeva Systems has a one year low of $52.17 and a one year high of $109.05.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Paradigm Asset Management Co. LLC purchased a new position in Veeva Systems during the 3rd quarter valued at about $125,000. Rockefeller Capital Management L.P. purchased a new position in Veeva Systems during the 3rd quarter valued at about $134,000. Global Trust Asset Management LLC purchased a new position in Veeva Systems during the 3rd quarter valued at about $163,000. One Wealth Advisors LLC purchased a new position in Veeva Systems during the 3rd quarter valued at about $173,000. Finally, Parallel Advisors LLC purchased a new position in Veeva Systems during the 3rd quarter valued at about $198,000. 77.42% of the stock is owned by institutional investors.
In related news, EVP Alan Mateo sold 555 shares of Veeva Systems stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $103.52, for a total value of $57,453.60. Following the completion of the sale, the executive vice president now owns 13,147 shares of the company’s stock, valued at approximately $1,360,977.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Timothy S. Cabral sold 50,000 shares of Veeva Systems stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $101.49, for a total value of $5,074,500.00. Following the completion of the sale, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $3,044,700. The disclosure for this sale can be found here. In the last three months, insiders sold 122,929 shares of company stock valued at $12,321,740. 15.97% of the stock is currently owned by insiders.
Veeva Systems Company Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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