Veeva Systems Inc. (VEEV) Given Hold Rating at JMP Securities
Veeva Systems Inc. (NYSE:VEEV)‘s stock had its “hold” rating restated by equities researchers at JMP Securities in a research report issued to clients and investors on Thursday.
A number of other brokerages have also commented on VEEV. Canaccord Genuity reissued a “hold” rating and set a $43.00 price target (up from $35.00) on shares of Veeva Systems in a report on Monday, August 29th. Stifel Nicolaus raised their price target on Veeva Systems from $45.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $46.00 price target (up from $43.00) on shares of Veeva Systems in a report on Friday, September 30th. Pacific Crest set a $42.00 target price on Veeva Systems and gave the company a “buy” rating in a research note on Wednesday, August 31st. Finally, KeyCorp raised their target price on Veeva Systems from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Veeva Systems presently has an average rating of “Hold” and an average target price of $43.31.
Shares of Veeva Systems (NYSE:VEEV) traded down 0.04% on Thursday, reaching $46.27. 1,313,702 shares of the company traded hands. The firm has a 50-day moving average of $39.47 and a 200-day moving average of $37.23. Veeva Systems has a 52-week low of $19.97 and a 52-week high of $46.70. The company has a market capitalization of $6.30 billion, a PE ratio of 125.05 and a beta of 1.60.
Veeva Systems (NYSE:VEEV) last issued its quarterly 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. The company had revenue of $142.80 million for the quarter, compared to analyst estimates of $135.67 million. Veeva Systems had a return on equity of 12.84% and a net margin of 12.73%. The company’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. On average, equities research analysts forecast that Veeva Systems will post $0.63 earnings per share for the current fiscal year.
In other news, EVP Alan Mateo sold 657 shares of Veeva Systems stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $38.21, for a total transaction of $25,103.97. Following the completion of the sale, the executive vice president now directly owns 8,184 shares in the company, valued at approximately $312,710.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Matthew J. Wallach sold 84,000 shares of Veeva Systems stock in a transaction dated 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 sale, the president now owns 42,000 shares of the company’s stock, valued at $1,741,740. The disclosure for this sale can be found here. Company insiders own 19.17% of the company’s stock.
Several large investors have recently made changes to their positions in VEEV. Riverbridge Partners LLC raised its stake in shares of 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 in the last quarter. Emerald Mutual Fund Advisers Trust raised 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 valued at $35,443,000 after buying an additional 37,926 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Veeva Systems during the second quarter valued at about $1,486,000. William Blair Investment Management LLC purchased a new stake in shares of Veeva Systems during the second quarter valued at about $75,081,000. Finally, Quantitative Investment Management LLC raised 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 valued at $2,576,000 after buying an additional 46,600 shares in the last quarter. Institutional investors and hedge funds 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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