Veeva Systems Inc. (VEEV) Expected to Post Earnings of $0.22 Per Share
Equities research analysts expect that Veeva Systems Inc. (NYSE:VEEV) will post earnings per share of $0.22 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Veeva Systems’ earnings, with the highest EPS estimate coming in at $0.23 and the lowest estimate coming in at $0.21. Veeva Systems also posted earnings of $0.22 per share in the same quarter last year. The business is expected to issue its next quarterly earnings report on Tuesday, November 28th.
According to Zacks, analysts expect that Veeva Systems will report full-year earnings of $0.87 per share for the current financial year, with EPS estimates ranging from $0.86 to $0.89. For the next financial year, analysts expect that the company will report earnings of $1.01 per share, with EPS estimates ranging from $0.97 to $1.03. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Veeva Systems.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $166.59 million for 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 12.77%. Veeva Systems’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share.
VEEV has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $67.00 target price on shares of Veeva Systems in a research note on Monday, July 10th. BidaskClub cut shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Friday, August 25th. JMP Securities reaffirmed a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Saturday, August 26th. Finally, KeyCorp reaffirmed a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Friday, August 25th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Veeva Systems has a consensus rating of “Buy” and a consensus target price of $65.82.
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Shares of Veeva Systems (NYSE VEEV) opened at 58.10 on Monday. The stock has a market cap of $8.17 billion, a P/E ratio of 74.30 and a beta of 1.63. Veeva Systems has a 1-year low of $36.55 and a 1-year high of $68.07. The company’s 50-day moving average is $57.98 and its 200-day moving average is $58.55.
In related news, Director Gordon Ritter sold 10,200 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $62.03, for a total value of $632,706.00. 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 business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $58.74, for a total transaction of $31,014.72. Following the completion of the sale, the executive vice president now owns 6,985 shares in the company, valued at $410,298.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 300,540 shares of company stock worth $17,784,180. Corporate insiders own 17.50% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Achmea Investment Management B.V. purchased a new stake in Veeva Systems in the 2nd quarter valued at about $476,000. Navellier & Associates Inc raised its holdings in Veeva Systems by 4.1% in the 2nd quarter. Navellier & Associates Inc now owns 115,578 shares of the technology company’s stock valued at $7,086,000 after buying an additional 4,512 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Veeva Systems in the 2nd quarter valued at about $825,000. Public Employees Retirement System of Ohio raised its holdings in Veeva Systems by 5.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 100,659 shares of the technology company’s stock valued at $6,171,000 after buying an additional 4,809 shares during the period. Finally, Koch Industries Inc. purchased a new stake in Veeva Systems in the 2nd quarter valued at about $408,000. Hedge funds and other institutional investors own 71.46% 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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