Veeva Systems Inc. (VEEV) to Release Quarterly Earnings on Tuesday
Veeva Systems Inc. (NYSE:VEEV) is scheduled to issue its Q317 quarterly earnings data on Tuesday, November 22nd. Veeva Systems has set its Q3 guidance at $0.15-0.16 EPS and its FY17 guidance at $0.60-0.61 EPS.
Veeva Systems (NYSE:VEEV) last released its earnings results on Tuesday, August 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. The business had revenue of $131.30 million for the quarter, compared to analyst estimates of $126.61 million. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, analysts expect Veeva Systems to post $0.36 EPS for the current fiscal year and $0.49 EPS for the next fiscal year.
Veeva Systems Inc. (NYSE:VEEV) opened at 41.55 on Monday. Veeva Systems Inc. has a 12-month low of $19.97 and a 12-month high of $42.58. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 112.30 and a beta of 1.60. The stock has a 50 day moving average price of $39.17 and a 200-day moving average price of $36.20.
In related news, EVP Alan Mateo sold 44,177 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $40.55, for a total value of $1,791,377.35. Following the sale, the executive vice president now directly owns 5,805 shares in the company, valued at approximately $235,392.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Matthew J. Wallach sold 84,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $41.47, for a total value of $3,483,480.00. Following the completion of the sale, the president now owns 42,000 shares in the company, valued at $1,741,740. The disclosure for this sale can be found here. Insiders own 19.17% of the company’s stock.
A number of hedge funds have recently bought and sold shares of VEEV. BlackRock Institutional Trust Company N.A. boosted its stake in Veeva Systems by 21.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,388,888 shares of the company’s stock valued at $81,509,000 after buying an additional 413,972 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in Veeva Systems by 124.4% in the second quarter. Lord Abbett & CO. LLC now owns 2,274,863 shares of the company’s stock valued at $77,618,000 after buying an additional 1,261,115 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Veeva Systems by 724.3% in the second quarter. 1832 Asset Management L.P. now owns 1,266,900 shares of the company’s stock valued at $42,615,000 after buying an additional 1,113,200 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in Veeva Systems during the second quarter valued at approximately $36,338,000. Finally, State Street Corp boosted its stake in Veeva Systems by 21.5% in the second quarter. State Street Corp now owns 963,062 shares of the company’s stock valued at $32,857,000 after buying an additional 170,373 shares in the last quarter. Hedge funds and other institutional investors own 67.53% of the company’s stock.
Several brokerages have recently weighed in on VEEV. Stifel Nicolaus upped their target price on Veeva Systems from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, September 30th. Bank of America Corp. reaffirmed a “hold” rating and issued a $44.00 target price on shares of Veeva Systems in a research report on Friday, September 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 target price (up previously from $43.00) on shares of Veeva Systems in a research report on Friday, September 30th. Goldman Sachs Group Inc. began coverage on Veeva Systems in a research report on Tuesday, October 4th. They issued a “neutral” rating and a $43.00 target price for the company. Finally, Pacific Crest set a $42.00 target price on Veeva Systems and gave the stock a “buy” rating in a research report on Wednesday, August 31st. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $41.46.
About Veeva Systems
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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