Other equities analysts have also issued reports about the company. Canaccord Genuity reiterated a buy rating and issued a $70.00 price objective on shares of Veeva Systems in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded Veeva Systems from a strong-buy rating to a hold rating in a report on Thursday, July 27th. KeyCorp reaffirmed a buy rating and set a $70.00 price objective on shares of Veeva Systems in a report on Friday, August 25th. BidaskClub raised Veeva Systems from a buy rating to a strong-buy rating in a report on Wednesday, September 6th. Finally, Needham & Company LLC reaffirmed a buy rating on shares of Veeva Systems in a report on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Veeva Systems presently has an average rating of Buy and an average price target of $65.75.
Shares of Veeva Systems (NYSE:VEEV) opened at 58.65 on Friday. Veeva Systems has a 52 week low of $37.34 and a 52 week high of $68.07. The firm’s 50-day moving average price is $57.16 and its 200 day moving average price is $58.97. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 75.00 and a beta of 1.63.
Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Veeva Systems had a return on equity of 12.77% and a net margin of 18.98%. The company had revenue of $166.59 million for the quarter, compared to analyst estimates of $164.26 million. During the same period last year, the company earned $0.15 earnings per share. The business’s revenue was up 26.8% compared to the same quarter last year. On average, analysts anticipate that Veeva Systems will post $0.87 EPS for the current year.
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In other Veeva Systems news, Director Gordon Ritter sold 5,100 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $54.55, for a total value of $278,205.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Matthew J. Wallach sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $62.76, for a total transaction of $1,506,240.00. Following the completion of the sale, the president now owns 24,000 shares in the company, valued at approximately $1,506,240. The disclosure for this sale can be found here. Insiders have sold 295,612 shares of company stock worth $17,303,521 over the last ninety days. Insiders own 17.50% of the company’s stock.
Several large investors have recently modified their holdings of VEEV. Achmea Investment Management B.V. bought a new position in Veeva Systems during the second quarter worth $476,000. Navellier & Associates Inc increased its stake in Veeva Systems by 4.1% in the second quarter. Navellier & Associates Inc now owns 115,578 shares of the technology company’s stock valued at $7,086,000 after purchasing an additional 4,512 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Veeva Systems in the second quarter valued at $825,000. Public Employees Retirement System of Ohio increased its stake in Veeva Systems by 5.0% in the second quarter. Public Employees Retirement System of Ohio now owns 100,659 shares of the technology company’s stock valued at $6,171,000 after purchasing an additional 4,809 shares in the last quarter. Finally, Koch Industries Inc. bought a new stake in Veeva Systems in the second quarter valued at $408,000. Institutional investors own 71.39% of the company’s stock.
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.
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