Veeva Systems Inc. (NYSE:VEEV) announced its quarterly earnings data on Thursday. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03, Bloomberg Earnings reports. The business had revenue of $166.59 million during the quarter, compared to the consensus estimate of $164.26 million. Veeva Systems had a net margin of 18.98% and a return on equity of 13.31%. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. Veeva Systems updated its Q3 guidance to $0.21-0.22 EPS and its FY18 guidance to $0.86-0.87 EPS.

Shares of Veeva Systems (NYSE:VEEV) opened at 55.81 on Friday. Veeva Systems has a 1-year low of $36.55 and a 1-year high of $68.07. The company has a market cap of $7.80 billion, a P/E ratio of 89.87 and a beta of 1.63. The stock’s 50 day moving average is $63.17 and its 200 day moving average is $56.06.

In other Veeva Systems news, EVP Alan Mateo sold 8,025 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $62.89, for a total transaction of $504,692.25. Following the completion of the sale, the executive vice president now directly owns 14,010 shares in the company, valued at $881,088.90. The transaction was disclosed in a legal 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 that occurred on Tuesday, August 15th. The stock was 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 90 days, insiders sold 279,958 shares of company stock valued at $17,821,591. 19.17% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the company. Brown Capital Management LLC increased its stake in Veeva Systems by 3.4% in the first quarter. Brown Capital Management LLC now owns 7,423,513 shares of the technology company’s stock valued at $380,678,000 after buying an additional 246,816 shares in the last quarter. State Street Corp increased its stake in Veeva Systems by 4.4% in the first quarter. State Street Corp now owns 1,221,052 shares of the technology company’s stock valued at $62,616,000 after buying an additional 51,135 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in Veeva Systems by 28.8% in the first quarter. Glen Harbor Capital Management LLC now owns 29,524 shares of the technology company’s stock valued at $1,514,000 after buying an additional 6,600 shares in the last quarter. Creative Planning boosted its position in Veeva Systems by 1.5% in the second quarter. Creative Planning now owns 15,422 shares of the technology company’s stock worth $946,000 after buying an additional 232 shares during the last quarter. Finally, Comerica Bank purchased a new position in Veeva Systems during the first quarter worth approximately $204,000. Institutional investors own 78.58% of the company’s stock.

Several analysts have issued reports on the stock. Citigroup Inc. raised their price objective on shares of Veeva Systems from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 30th. Deutsche Bank AG reissued a “hold” rating and issued a $55.00 price objective on shares of Veeva Systems in a research note on Tuesday, May 30th. Needham & Company LLC reissued a “buy” rating and issued a $75.00 price objective (up previously from $48.00) on shares of Veeva Systems in a research note on Sunday, May 28th. Pacific Crest reissued an “overweight” rating and issued a $70.00 price objective (up previously from $61.00) on shares of Veeva Systems in a research note on Sunday, May 28th. Finally, Stifel Nicolaus raised their price objective on shares of Veeva Systems from $60.00 to $67.00 and gave the stock a “buy” rating in a research note on Saturday, May 27th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Veeva Systems presently has an average rating of “Buy” and an average target price of $63.69.

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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.

Earnings History for Veeva Systems (NYSE:VEEV)

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