Veeva Systems Inc (NYSE:VEEV) has received a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $67.44.
VEEV has been the topic of several analyst reports. BidaskClub upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 20th. Needham & Company LLC reiterated a “buy” rating on shares of Veeva Systems in a research note on Thursday, October 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $67.00 target price on shares of Veeva Systems in a research note on Friday, October 13th. Zacks Investment Research downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research note on Wednesday, December 6th.
In other news, SVP Frederic Lequient sold 2,875 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $57.32, for a total transaction of $164,795.00. Following the completion of the transaction, the senior vice president now directly owns 3,399 shares of the company’s stock, valued at $194,830.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alan Mateo sold 532 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $58.11, for a total transaction of $30,914.52. Following the transaction, the executive vice president now directly owns 8,294 shares of the company’s stock, valued at $481,964.34. The disclosure for this sale can be found here. Insiders have sold 170,617 shares of company stock valued at $9,827,783 over the last three months. 19.17% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. ETF Managers Group LLC purchased a new stake in Veeva Systems during the second quarter valued at approximately $101,000. C M Bidwell & Associates Ltd. increased its holdings in Veeva Systems by 460.0% during the second quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock valued at $172,000 after buying an additional 2,300 shares during the last quarter. 1st Global Advisors Inc. purchased a new stake in Veeva Systems during the second quarter valued at approximately $200,000. Nordea Investment Management AB purchased a new stake in Veeva Systems during the second quarter valued at approximately $208,000. Finally, Oakbrook Investments LLC purchased a new stake in Veeva Systems during the third quarter valued at approximately $203,000. 70.98% of the stock is owned by institutional investors and hedge funds.
Veeva Systems (NYSE:VEEV) opened at $58.53 on Friday. The stock has a market cap of $8,270.00, a P/E ratio of 64.32, a PEG ratio of 4.64 and a beta of 1.60. Veeva Systems has a 52 week low of $41.30 and a 52 week high of $68.07.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.09. The firm had revenue of $176.10 million for the quarter, compared to the consensus estimate of $171.99 million. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. The business’s revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. equities analysts expect that Veeva Systems will post 0.68 earnings per share for the current fiscal year.
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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.
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