Shares of Veeva Systems Inc (NYSE:VEEV) have earned a consensus rating of “Buy” from the nineteen brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $177.12.
VEEV has been the subject of a number of analyst reports. Deutsche Bank reduced their price objective on Veeva Systems from $160.00 to $150.00 and set a “hold” rating for the company in a research report on Tuesday, January 7th. They noted that the move was a valuation call. Stephens reaffirmed a “buy” rating and issued a $185.00 target price on shares of Veeva Systems in a research report on Wednesday, November 27th. Evercore ISI reiterated a “hold” rating and issued a $170.00 target price on shares of Veeva Systems in a research note on Thursday, November 28th. Barclays boosted their price target on shares of Veeva Systems from $165.00 to $176.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, Raymond James upgraded shares of Veeva Systems from a “market perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research report on Thursday, September 26th.
Shares of NYSE:VEEV opened at $147.78 on Wednesday. The company has a market cap of $21.62 billion, a PE ratio of 119.18, a P/E/G ratio of 4.05 and a beta of 1.17. Veeva Systems has a fifty-two week low of $97.60 and a fifty-two week high of $176.90. The firm has a 50-day simple moving average of $144.52 and a 200 day simple moving average of $153.26. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.01.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, November 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.19. The firm had revenue of $280.90 million for the quarter, compared to analysts’ expectations of $274.81 million. Veeva Systems had a net margin of 29.86% and a return on equity of 17.56%. Veeva Systems’s revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. As a group, research analysts forecast that Veeva Systems will post 1.64 EPS for the current fiscal year.
In other Veeva Systems news, CFO Timothy S. Cabral sold 464 shares of Veeva Systems stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $141.16, for a total value of $65,498.24. Following the transaction, the chief financial officer now owns 2,344 shares in the company, valued at $330,879.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Eleni Nitsa Zuppas sold 5,000 shares of Veeva Systems stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $144.99, for a total transaction of $724,950.00. Following the completion of the transaction, the chief marketing officer now owns 15,090 shares in the company, valued at approximately $2,187,899.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,634 shares of company stock worth $5,440,918. Corporate insiders own 14.38% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Endurance Wealth Management Inc. purchased a new position in Veeva Systems in the third quarter valued at about $27,000. Lenox Wealth Advisors LLC acquired a new position in Veeva Systems in the 4th quarter worth about $25,000. Venturi Wealth Management LLC purchased a new stake in shares of Veeva Systems during the 3rd quarter worth about $35,000. Allred Capital Management LLC purchased a new stake in shares of Veeva Systems during the 4th quarter worth about $33,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Veeva Systems during the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 77.42% of the company’s stock.
About Veeva Systems
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 and data 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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