Veeva Systems Inc. (VEEV) PT Raised to $48.00 at Stifel Nicolaus
Veeva Systems Inc. (NYSE:VEEV) had its target price hoisted by research analysts at Stifel Nicolaus from $45.00 to $48.00 in a research note issued to investors on Wednesday. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 3.69% from the company’s current price.
Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered Veeva Systems from a “buy” rating to a “hold” rating in a research note on Monday, September 5th. JMP Securities began coverage on Veeva Systems in a research note on Thursday, October 13th. They set a “market perform” rating for the company. Canaccord Genuity raised their price objective on Veeva Systems from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. Goldman Sachs Group Inc. began coverage on Veeva Systems in a research note on Tuesday, October 4th. They set a “neutral” rating and a $43.00 price objective for the company. Finally, Needham & Company LLC raised their price objective on Veeva Systems from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 31st. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.31.
Shares of Veeva Systems (NYSE:VEEV) opened at 46.29 on Wednesday. The firm’s 50-day moving average price is $39.29 and its 200 day moving average price is $37.09. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 125.11 and a beta of 1.60. Veeva Systems has a 52 week low of $19.97 and a 52 week high of $46.70.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The business earned $142.80 million during 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 revenue was up 33.6% compared to the same quarter last year. During the same period last year, the company posted $0.12 EPS. On average, analysts anticipate that Veeva Systems will post $0.63 EPS for the current year.
In other Veeva Systems news, CFO Timothy S. Cabral sold 42,441 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $41.42, for a total transaction of $1,757,906.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Matthew J. Wallach sold 84,000 shares of the firm’s 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 transaction, the president now owns 42,000 shares in the company, valued at $1,741,740. The disclosure for this sale can be found here. Company insiders own 19.17% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Huntington National Bank bought a new position in Veeva Systems during the second quarter valued at $101,000. FineMark National Bank & Trust raised its position in Veeva Systems by 12.7% in the second quarter. FineMark National Bank & Trust now owns 3,060 shares of the company’s stock valued at $104,000 after buying an additional 346 shares during the period. Advisor Group Inc. raised its position in Veeva Systems by 105.2% in the third quarter. Advisor Group Inc. now owns 2,772 shares of the company’s stock valued at $115,000 after buying an additional 1,421 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 period. Finally, The Manufacturers Life Insurance Company bought a new position in Veeva Systems during the third quarter valued at $156,000. Institutional investors 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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