Vetr upgraded shares of Veeva Systems (NYSE:VEEV) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday, February 8th. They currently have $61.05 price target on the technology company’s stock.
A number of other equities analysts have also recently issued reports on VEEV. Zacks Investment Research upgraded shares of Veeva Systems from a hold rating to a buy rating and set a $65.00 price objective for the company in a research report on Wednesday, October 11th. Needham & Company LLC reiterated a buy rating on shares of Veeva Systems in a research report on Thursday, October 12th. Stifel Nicolaus reiterated a buy rating and set a $67.00 price objective on shares of Veeva Systems in a research report on Friday, October 13th. BidaskClub raised shares of Veeva Systems from a buy rating to a strong-buy rating in a report on Friday, October 20th. Finally, Canaccord Genuity reissued a buy rating and set a $70.00 target price on shares of Veeva Systems in a report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $67.54.
Veeva Systems (VEEV) opened at $59.76 on Thursday. The company has a market cap of $8,446.66, a P/E ratio of 101.29, a PEG ratio of 6.17 and a beta of 1.66. Veeva Systems has a 12-month low of $41.30 and a 12-month high of $68.07.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.09. The business had revenue of $176.10 million during the quarter, compared to analysts’ expectations of $171.99 million. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. equities research analysts forecast that Veeva Systems will post 0.68 EPS for the current year.
In other news, CFO Timothy S. Cabral sold 50,000 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $55.74, for a total value of $2,787,000.00. Following the sale, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at approximately $2,787,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Matthew J. Wallach sold 24,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $57.36, for a total transaction of $1,376,640.00. Following the completion of the sale, the president now directly owns 24,000 shares in the company, valued at $1,376,640. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 166,417 shares of company stock worth $9,502,103. Insiders own 17.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in shares of Veeva Systems by 605.4% during the 3rd quarter. IFP Advisors Inc now owns 13,347 shares of the technology company’s stock valued at $753,000 after acquiring an additional 11,455 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Veeva Systems by 255.5% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 156,579 shares of the technology company’s stock worth $8,833,000 after buying an additional 112,539 shares during the last quarter. California State Teachers Retirement System raised its holdings in Veeva Systems by 2.5% during the second quarter. California State Teachers Retirement System now owns 195,489 shares of the technology company’s stock worth $11,985,000 after buying an additional 4,770 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Veeva Systems by 133.5% during the third quarter. Dynamic Technology Lab Private Ltd now owns 31,420 shares of the technology company’s stock worth $1,772,000 after buying an additional 17,962 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new position in Veeva Systems during the third quarter worth $931,000. Institutional investors own 69.55% of the company’s stock.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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