Veeva Systems (NYSE:VEEV) had its target price upped by equities research analysts at Deutsche Bank from $55.00 to $70.00 in a report issued on Friday. The firm presently has a “hold” rating on the technology company’s stock. Deutsche Bank’s price objective indicates a potential downside of 9.14% from the stock’s previous close.
VEEV has been the topic of several other reports. Morgan Stanley upgraded shares of Veeva Systems from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 30th. ValuEngine upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research report on Wednesday, February 21st. Vetr upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price target on the stock in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. lowered shares of Veeva Systems from an “overweight” rating to a “neutral” rating in a research report on Friday, March 9th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Veeva Systems currently has a consensus rating of “Buy” and a consensus price target of $75.43.
Shares of Veeva Systems stock traded down $0.13 on Friday, reaching $77.04. 2,748,731 shares of the stock were exchanged, compared to its average volume of 1,109,638. Veeva Systems has a 1-year low of $52.17 and a 1-year high of $79.96. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 83.83, a price-to-earnings-growth ratio of 4.62 and a beta of 1.40.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, February 27th. The technology company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. Veeva Systems had a net margin of 20.71% and a return on equity of 11.89%. The company had revenue of $184.92 million for the quarter, compared to analyst estimates of $180.13 million. equities analysts forecast that Veeva Systems will post 0.98 EPS for the current fiscal year.
In other Veeva Systems news, EVP Alan Mateo sold 603 shares of the stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $72.59, for a total transaction of $43,771.77. Following the transaction, the executive vice president now owns 11,221 shares of the company’s stock, valued at $814,532.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Timothy S. Cabral sold 40,000 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $77.01, for a total transaction of $3,080,400.00. Following the transaction, the chief financial officer now directly owns 30,000 shares in the company, valued at approximately $2,310,300. The disclosure for this sale can be found here. Insiders have sold 169,733 shares of company stock worth $12,965,920 in the last three months. Insiders own 15.97% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Amalgamated Bank raised its stake in Veeva Systems by 8.6% during the first quarter. Amalgamated Bank now owns 23,588 shares of the technology company’s stock worth $1,722,000 after purchasing an additional 1,866 shares during the period. WINTON GROUP Ltd purchased a new position in Veeva Systems during the first quarter worth approximately $753,000. Xact Kapitalforvaltning AB raised its stake in Veeva Systems by 11.5% during the first quarter. Xact Kapitalforvaltning AB now owns 20,135 shares of the technology company’s stock worth $1,470,000 after purchasing an additional 2,074 shares during the period. Legal & General Group Plc raised its stake in Veeva Systems by 6.5% during the first quarter. Legal & General Group Plc now owns 142,929 shares of the technology company’s stock worth $10,437,000 after purchasing an additional 8,747 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Veeva Systems by 29.3% in the 1st quarter. Millennium Management LLC now owns 437,026 shares of the technology company’s stock valued at $31,912,000 after acquiring an additional 99,123 shares during the period. 73.28% of the stock is currently owned by institutional investors.
About Veeva Systems
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.
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