Veeva Systems Inc. (VEEV) Given Average Recommendation of “Buy” by Brokerages
Shares of Veeva Systems Inc. (NYSE:VEEV) have been assigned a consensus rating of “Buy” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $62.18.
A number of analysts have issued reports on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price target on shares of Veeva Systems in a report on Tuesday. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $60.00 to $67.00 and gave the company a “buy” rating in a report on Saturday, May 27th. Deutsche Bank AG reiterated a “hold” rating and issued a $55.00 price target on shares of Veeva Systems in a report on Tuesday, May 30th. Pacific Crest reiterated an “overweight” rating and issued a $70.00 price target (up from $61.00) on shares of Veeva Systems in a report on Sunday, May 28th. Finally, BidaskClub downgraded shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th.
In other Veeva Systems news, EVP Alan Mateo sold 8,025 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $62.89, for a total value of $504,692.25. Following the completion of the sale, the executive vice president now directly owns 14,010 shares of the company’s stock, valued at approximately $881,088.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ronald E. F. Codd sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $62.99, for a total transaction of $188,970.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 279,958 shares of company stock valued at $17,821,591. 17.50% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Geneva Advisors LLC boosted its stake in Veeva Systems by 18.2% in the first quarter. Geneva Advisors LLC now owns 37,842 shares of the technology company’s stock valued at $1,941,000 after buying an additional 5,820 shares during the period. Jennison Associates LLC boosted its stake in Veeva Systems by 4.4% in the first quarter. Jennison Associates LLC now owns 576,321 shares of the technology company’s stock valued at $29,554,000 after buying an additional 24,353 shares during the period. Canada Pension Plan Investment Board boosted its stake in Veeva Systems by 32.6% in the first quarter. Canada Pension Plan Investment Board now owns 281,000 shares of the technology company’s stock valued at $14,410,000 after buying an additional 69,100 shares during the period. First Midwest Bank Trust Division bought a new stake in Veeva Systems during the first quarter valued at about $2,070,000. Finally, IFP Advisors Inc boosted its stake in Veeva Systems by 26.6% in the first quarter. IFP Advisors Inc now owns 4,329 shares of the technology company’s stock valued at $222,000 after buying an additional 909 shares during the period. 78.58% of the stock is owned by institutional investors.
Shares of Veeva Systems (NYSE:VEEV) opened at 65.57 on Wednesday. Veeva Systems has a one year low of $36.55 and a one year high of $68.07. The firm has a 50 day moving average price of $63.02 and a 200-day moving average price of $55.68. The firm has a market cap of $9.16 billion, a P/E ratio of 105.59 and a beta of 1.63.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, May 25th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $157.90 million during the quarter, compared to the consensus estimate of $151.82 million. Veeva Systems had a net margin of 15.86% and a return on equity of 12.28%. The business’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Analysts forecast that Veeva Systems will post $0.83 earnings per share for the current year.
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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