Veeva Systems Inc. (VEEV) Given “Buy” Rating at Evercore ISI
Evercore ISI reiterated their buy rating on shares of Veeva Systems Inc. (NYSE:VEEV) in a report released on Saturday. Evercore ISI currently has a $47.00 price objective on the stock, up from their prior price objective of $45.00.
Other 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. Stifel Nicolaus boosted their target price on Veeva Systems from $43.00 to $45.00 and gave the company a buy rating in a research note on Friday, September 30th. JMP Securities began coverage on Veeva Systems in a research note on Thursday, October 13th. They issued a market perform rating on the stock. Deutsche Bank AG boosted their target price on Veeva Systems from $36.00 to $44.00 and gave the company a hold rating in a research note on Wednesday. Finally, Goldman Sachs Group Inc. began coverage on Veeva Systems in a research note on Tuesday, October 4th. They issued a neutral rating and a $43.00 target price on the stock. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Veeva Systems presently has a consensus rating of Hold and an average price target of $43.57.
Shares of Veeva Systems (NYSE:VEEV) opened at 46.27 on Friday. Veeva Systems has a 1-year low of $19.97 and a 1-year high of $46.70. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 125.05 and a beta of 1.60. The company has a 50-day moving average price of $39.47 and a 200 day moving average price of $37.23.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, November 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.06. The firm 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 business’s revenue was up 33.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 earnings per share. On average, equities research analysts predict that Veeva Systems will post $0.63 EPS for the current year.
WARNING: This piece was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be read at https://www.thecerbatgem.com/2016/11/26/veeva-systems-inc-veev-given-buy-rating-at-evercore-isi.html.
In other news, President Matthew J. Wallach sold 84,000 shares of the company’s stock in a transaction dated 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 completion of 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 available through the SEC website. Also, CFO Timothy S. Cabral sold 42,441 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $41.42, for a total value of $1,757,906.22. The disclosure for this sale can be found here. 19.17% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Huntington National Bank bought a new stake in shares of Veeva Systems during the second quarter valued at $101,000. FineMark National Bank & Trust boosted its stake in shares of 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 in the last quarter. Advisor Group Inc. boosted its stake in shares of 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 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 in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Veeva Systems during the third quarter valued at $156,000. Institutional investors 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.
Receive News & Stock Ratings for Veeva Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems Inc. and related stocks with our FREE daily email newsletter.