Veeva Systems Inc. (VEEV) Expected to Announce Quarterly Sales of $172.06 Million
Equities analysts forecast that Veeva Systems Inc. (NYSE:VEEV) will post sales of $172.06 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Veeva Systems’ earnings, with the lowest sales estimate coming in at $171.57 million and the highest estimate coming in at $173.23 million. Veeva Systems posted sales of $142.78 million during the same quarter last year, which would indicate a positive year over year growth rate of 20.5%. The firm is scheduled to issue its next earnings results on Tuesday, November 28th.
According to Zacks, analysts expect that Veeva Systems will report full-year sales of $172.06 million for the current year, with estimates ranging from $667.00 million to $674.88 million. For the next financial year, analysts forecast that the business will report sales of $802.37 million per share, with estimates ranging from $784.95 million to $820.42 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Veeva Systems.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Veeva Systems had a return on equity of 12.77% and a net margin of 18.98%. The firm had revenue of $166.59 million for the quarter, compared to the consensus estimate of $164.26 million. During the same quarter last year, the business posted $0.15 earnings per share. The firm’s revenue was up 26.8% compared to the same quarter last year.
A number of brokerages have commented on VEEV. BidaskClub cut Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 14th. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a report on Friday, August 25th. JMP Securities restated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a report on Saturday, August 26th. KeyCorp restated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a report on Friday, August 25th. Finally, Canaccord Genuity restated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a report on Tuesday, August 22nd. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $64.77.
In related news, CFO Timothy S. Cabral sold 4,375 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $56.44, for a total value of $246,925.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alan Mateo sold 528 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $58.74, for a total value of $31,014.72. Following the completion of the transaction, the executive vice president now directly owns 6,985 shares in the company, valued at $410,298.90. The disclosure for this sale can be found here. Insiders sold a total of 239,040 shares of company stock worth $14,438,981 over the last ninety days. Corporate insiders own 19.17% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in Veeva Systems by 137.8% in the first quarter. Russell Investments Group Ltd. now owns 133,267 shares of the technology company’s stock valued at $6,834,000 after purchasing an additional 77,220 shares during the period. Great West Life Assurance Co. Can raised its position in Veeva Systems by 22.5% in the first quarter. Great West Life Assurance Co. Can now owns 10,340 shares of the technology company’s stock valued at $529,000 after purchasing an additional 1,900 shares during the period. Bank of New York Mellon Corp raised its position in Veeva Systems by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 510,450 shares of the technology company’s stock valued at $26,177,000 after purchasing an additional 27,282 shares during the period. BNP Paribas Arbitrage SA raised its position in Veeva Systems by 135.6% in the first quarter. BNP Paribas Arbitrage SA now owns 3,809 shares of the technology company’s stock valued at $195,000 after purchasing an additional 2,192 shares during the period. Finally, Comerica Bank purchased a new position in Veeva Systems in the first quarter valued at about $204,000. 71.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of Veeva Systems (NYSE VEEV) opened at 56.14 on Friday. The firm has a 50-day moving average price of $60.34 and a 200-day moving average price of $57.80. The stock has a market cap of $7.89 billion, a P/E ratio of 71.79 and a beta of 1.65. Veeva Systems has a 52-week low of $36.55 and a 52-week high of $68.07.
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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