Veeva Systems Inc. (VEEV) Issues Q4 Earnings Guidance
Veeva Systems Inc. (NYSE:VEEV) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.17 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.15. The company issued revenue guidance of $145-146 million, compared to the consensus revenue estimate of $140.65 million.
A number of equities research analysts have weighed in on the company. Needham & Company LLC restated a buy rating and set a $46.00 price target on shares of Veeva Systems in a research report on Saturday, October 15th. JMP Securities assumed coverage on Veeva Systems in a research report on Thursday, October 13th. They set a market perform rating on the stock. Canaccord Genuity restated a buy rating and set a $46.00 price target (up previously from $43.00) on shares of Veeva Systems in a research report on Tuesday, October 4th. Goldman Sachs Group Inc. assumed coverage on Veeva Systems in a research note on Tuesday, October 4th. They set a neutral rating and a $43.00 price objective on the stock. Finally, Bank of America Corp. reaffirmed a hold rating and set a $44.00 price objective on shares of Veeva Systems in a research note on Friday, September 30th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Veeva Systems currently has a consensus rating of Hold and a consensus price target of $41.46.
Shares of Veeva Systems Inc. (NYSE:VEEV) traded down 0.50% during mid-day trading on Tuesday, reaching $41.56. 1,855,336 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $39.12 and a 200 day moving average price of $36.92. Veeva Systems Inc. has a 12-month low of $19.97 and a 12-month high of $42.58. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 112.32 and a beta of 1.60.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Tuesday, November 22nd. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $135.67 million. Veeva Systems had a net margin of 11.33% and a return on equity of 11.26%. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. Analysts anticipate that Veeva Systems Inc. will post $0.63 EPS for the current fiscal year.
In other news, Director Paul J. Sekhri sold 17,593 shares of the company’s stock in a transaction dated Tuesday, October 11th. The shares were sold at an average price of $37.73, for a total transaction of $663,783.89. Following the sale, the director now directly owns 21,108 shares in the company, valued at approximately $796,404.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alan Mateo sold 44,177 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $40.55, for a total transaction of $1,791,377.35. Following the sale, the executive vice president now owns 5,805 shares in the company, valued at $235,392.75. The disclosure for this sale can be found here. 19.17% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Veeva Systems by 22.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,402 shares of the company’s stock valued at $140,000 after buying an additional 625 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Veeva Systems during the third quarter valued at approximately $156,000. Panagora Asset Management Inc. purchased a new position in shares of Veeva Systems during the third quarter valued at approximately $270,000. Pacer Advisors Inc. purchased a new position in shares of Veeva Systems during the second quarter valued at approximately $267,000. Finally, LPL Financial LLC increased its position in shares of Veeva Systems by 39.3% in the third quarter. LPL Financial LLC now owns 8,776 shares of the company’s stock valued at $356,000 after buying an additional 2,476 shares during the last quarter. Hedge funds and other institutional investors own 71.12% 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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