Veeva Systems Inc. (VEEV) Receives Hold Rating from JMP Securities
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.
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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