JMP Securities restated their hold rating on shares of Veeva Systems Inc. (NYSE:VEEV) in a research report released on Thursday.

VEEV has been the subject of several other research reports. Citigroup Inc. upped their price target on shares of Veeva Systems from $31.00 to $40.00 and gave the company a neutral rating in a research report on Tuesday, August 23rd. Canaccord Genuity restated a hold rating and issued a $43.00 price target (up previously from $35.00) on shares of Veeva Systems in a research report on Monday, August 29th. Bank of America Corp. restated a hold rating and issued a $44.00 price target on shares of Veeva Systems in a research report on Friday, September 30th. Needham & Company LLC restated a buy rating and issued a $46.00 price target on shares of Veeva Systems in a research report on Saturday, October 15th. Finally, Raymond James Financial Inc. initiated coverage on shares of Veeva Systems in a research report on Wednesday, August 24th. They issued a market perform rating for the company. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $43.31.

Shares of Veeva Systems (NYSE:VEEV) traded down 0.04% during trading on Thursday, reaching $46.27. 1,313,702 shares of the company’s stock were exchanged. The company 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 firm has a market capitalization of $6.30 billion, a P/E 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 the Thomson Reuters’ consensus estimate of $0.16 by $0.06. The business earned $142.80 million during the quarter, compared to the consensus estimate of $135.67 million. Veeva Systems had a net margin of 12.73% and a return on equity of 12.84%. The firm’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. Equities analysts anticipate that Veeva Systems will post $0.63 earnings per share for the current fiscal year.

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In related news, President Matthew J. Wallach sold 84,000 shares of the firm’s stock in a transaction 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 transaction, the president now directly owns 42,000 shares in the company, valued at approximately $1,741,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald E. F. Codd sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $41.00, for a total transaction of $123,000.00. The disclosure for this sale can be found here. 19.17% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of VEEV. Envestnet Asset Management Inc. raised its position in Veeva Systems by 48.6% in the first quarter. Envestnet Asset Management Inc. now owns 46,029 shares of the company’s stock worth $1,153,000 after buying an additional 15,050 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Veeva Systems during the first quarter worth $982,000. First Republic Investment Management Inc. increased its stake in shares of Veeva Systems by 54.0% in the first quarter. First Republic Investment Management Inc. now owns 43,730 shares of the company’s stock worth $1,095,000 after buying an additional 15,335 shares during the period. IBM Retirement Fund bought a new stake in shares of Veeva Systems during the second quarter worth $331,000. Finally, Pembroke Management LTD bought a new stake in shares of Veeva Systems during the second quarter worth $6,714,000. Institutional investors and hedge funds own 71.12% of the company’s stock.

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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