Veeva Systems Inc. (VEEV) Price Target Raised to $48.00 at KeyCorp
A number of other analysts have also commented on VEEV. Zacks Investment Research lowered Veeva Systems from a hold rating to a sell rating in a research report on Tuesday, July 26th. Morgan Stanley reaffirmed a buy rating and issued a $44.00 target price on shares of Veeva Systems in a research report on Tuesday, August 16th. Citigroup Inc. boosted their target price on Veeva Systems from $31.00 to $40.00 and gave the company a neutral rating in a research report on Tuesday, August 23rd. Raymond James Financial Inc. initiated coverage on Veeva Systems in a research report on Wednesday, August 24th. They issued a market perform rating for the company. Finally, Canaccord Genuity reaffirmed a hold rating and issued a $43.00 target price (up from $35.00) on shares of Veeva Systems in a research report on Monday, August 29th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $43.31.
Shares of Veeva Systems (NYSE:VEEV) opened at 46.29 on Wednesday. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 125.11 and a beta of 1.60. The firm has a 50-day moving average price of $39.29 and a 200 day moving average price of $37.09. Veeva Systems has a 1-year low of $19.97 and a 1-year high of $46.70.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, November 22nd. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. Veeva Systems had a return on equity of 12.84% and a net margin of 12.73%. The business earned $142.80 million during the quarter, compared to analyst estimates of $135.67 million. During the same period in the previous year, the company posted $0.12 EPS. The firm’s revenue was up 33.6% compared to the same quarter last year. On average, analysts predict that Veeva Systems will post $0.63 EPS for the current fiscal year.
In related news, President Matthew J. Wallach sold 84,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $41.47, for a total value of $3,483,480.00. Following the transaction, the president now owns 42,000 shares in the company, valued at $1,741,740. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul J. Sekhri sold 17,593 shares of the company’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $37.73, for a total value of $663,783.89. Following the completion of the transaction, the director now owns 21,108 shares in the company, valued at approximately $796,404.84. The disclosure for this sale can be found here. 19.17% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Riverbridge Partners LLC increased its position in Veeva Systems by 1.4% in the second quarter. Riverbridge Partners LLC now owns 1,981,733 shares of the company’s stock valued at $67,617,000 after buying an additional 26,740 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of 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 during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Veeva Systems during the second quarter worth about $1,486,000. William Blair Investment Management LLC acquired a new stake in shares of Veeva Systems during the second quarter worth about $75,081,000. Finally, Quantitative Investment Management LLC boosted its stake in shares of Veeva Systems by 161.2% in the second quarter. Quantitative Investment Management LLC now owns 75,500 shares of the company’s stock worth $2,576,000 after buying an additional 46,600 shares during the last quarter. Institutional investors and hedge funds own 71.12% of the company’s stock.
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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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