Veeva Systems (NYSE:VEEV) released its earnings results on Tuesday, February 27th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.08, Bloomberg Earnings reports. Veeva Systems had a return on equity of 12.30% and a net margin of 20.71%. The firm had revenue of $184.92 million for the quarter, compared to analyst estimates of $180.13 million. Veeva Systems updated its Q1 guidance to $0.30-$0.31 EPS and its FY19 guidance to $1.30-$1.33 EPS.
Veeva Systems (NYSE VEEV) traded up $1.00 during mid-day trading on Wednesday, reaching $77.45. The company’s stock had a trading volume of 1,137,858 shares, compared to its average volume of 1,259,663. The company has a market capitalization of $10,950.00, a price-to-earnings ratio of 84.18, a PEG ratio of 4.67 and a beta of 1.46. Veeva Systems has a 52-week low of $45.91 and a 52-week high of $78.28.
VEEV has been the subject of several research analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a research report on Wednesday, December 6th. Morgan Stanley raised Veeva Systems from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 30th. DA Davidson assumed coverage on Veeva Systems in a research note on Friday, February 2nd. They issued a “buy” rating and a $75.00 target price for the company. Zacks Investment Research cut Veeva Systems from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Vetr raised Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 target price for the company in a research note on Thursday, February 8th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $71.47.
In other news, EVP Alan Mateo sold 701 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $58.85, for a total value of $41,253.85. Following the sale, the executive vice president now directly owns 9,512 shares in the company, valued at $559,781.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Timothy S. Cabral sold 40,000 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $77.01, for a total value of $3,080,400.00. Following the completion of the sale, the chief financial officer now owns 30,000 shares in the company, valued at $2,310,300. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,723 shares of company stock worth $16,573,583. Corporate insiders own 17.50% of the company’s stock.
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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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