Veeva Systems Inc. (VEEV) Receives $41.45 Average Price Target from Analysts
Veeva Systems Inc. (NYSE:VEEV) has been given an average recommendation of “Hold” by the sixteen analysts that are currently covering the company. Nine research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $41.45.
Several analysts recently commented on VEEV shares. Bank of America Corp. started coverage on Veeva Systems in a report on Friday, June 17th. They issued a “neutral” rating and a $40.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $38.00 price target on shares of Veeva Systems in a report on Thursday, June 30th. Zacks Investment Research lowered Veeva Systems from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Morgan Stanley reissued a “buy” rating and set a $44.00 price target on shares of Veeva Systems in a report on Tuesday, August 16th. Finally, Citigroup Inc. boosted their price target on Veeva Systems from $31.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, August 23rd.
In related news, Director Ronald E. F. Codd sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $40.31, for a total value of $80,620.00. Following the sale, the director now directly owns 3,569 shares in the company, valued at $143,866.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Sekhri sold 17,593 shares of the business’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $37.73, for a total value of $663,783.89. Following the completion of the sale, the director now owns 21,108 shares in the company, valued at $796,404.84. The disclosure for this sale can be found here. 19.17% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of VEEV. Emerald Mutual Fund Advisers Trust increased its stake in Veeva Systems by 3.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 1,038,773 shares of the company’s stock worth $35,443,000 after buying an additional 37,926 shares in the last quarter. Huntington National Bank purchased a new stake in Veeva Systems during the second quarter worth approximately $101,000. Bank of Montreal Can purchased a new stake in Veeva Systems during the second quarter worth approximately $1,160,000. Pembroke Management LTD bought a new stake in shares of Veeva Systems during the second quarter worth about $6,714,000. Finally, IBM Retirement Fund bought a new stake in shares of Veeva Systems during the second quarter worth about $331,000. Institutional investors own 70.67% of the company’s stock.
Veeva Systems (NYSE:VEEV) opened at 37.91 on Tuesday. The company’s 50 day moving average price is $40.20 and its 200-day moving average price is $34.29. Veeva Systems has a one year low of $19.97 and a one year high of $42.58. The stock has a market capitalization of $5.16 billion, a PE ratio of 102.46 and a beta of 1.58.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Tuesday, August 30th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The company earned $131.30 million during the quarter, compared to analyst estimates of $126.61 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. Veeva Systems’s revenue was up 33.8% compared to the same quarter last year. Analysts expect that Veeva Systems will post $0.60 earnings per share for the current year.
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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