$180.24 Million in Sales Expected for Veeva Systems Inc (VEEV) This Quarter
Equities research analysts expect Veeva Systems Inc (NYSE:VEEV) to report sales of $180.24 million for the current quarter, Zacks reports. Six analysts have issued estimates for Veeva Systems’ earnings, with estimates ranging from $179.49 million to $182.67 million. Veeva Systems posted sales of $150.15 million during the same quarter last year, which suggests a positive year-over-year growth rate of 20%. The company is scheduled to issue its next earnings report on Tuesday, February 27th.
On average, analysts expect that Veeva Systems will report full year sales of $180.24 million for the current fiscal year, with estimates ranging from $680.00 million to $683.32 million. For the next year, analysts forecast that the company will post sales of $807.43 million per share, with estimates ranging from $803.76 million to $820.49 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Veeva Systems.
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 Thomson Reuters’ 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 return on equity of 12.21% and a net margin of 19.97%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS.
Several research analysts have recently issued reports on VEEV shares. BidaskClub raised Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 20th. Needham & Company LLC reaffirmed a “buy” rating on shares of Veeva Systems in a research report on Thursday, October 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $67.00 price objective on shares of Veeva Systems in a research report on Friday, October 13th. Zacks Investment Research cut Veeva Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a research report on Wednesday, December 6th. Four investment 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 stock. The stock presently has a consensus rating of “Buy” and an average target price of $67.45.
Veeva Systems (VEEV) traded down $1.86 during trading hours on Tuesday, hitting $56.51. The stock had a trading volume of 1,434,500 shares, compared to its average volume of 1,240,000. The firm has a market cap of $7,990.00, a PE ratio of 62.10, a P/E/G ratio of 4.74 and a beta of 1.60. Veeva Systems has a twelve month low of $41.30 and a twelve month high of $68.07.
In related news, CFO Timothy S. Cabral sold 50,000 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $55.74, for a total value of $2,787,000.00. Following the completion of the sale, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at approximately $2,787,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gordon Ritter sold 5,100 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $59.16, for a total value of $301,716.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 175,016 shares of company stock valued at $10,088,246. Insiders own 17.50% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. QS Investors LLC raised its stake in Veeva Systems by 0.5% during the 2nd quarter. QS Investors LLC now owns 3,832 shares of the technology company’s stock valued at $235,000 after acquiring an additional 19 shares during the last quarter. Comerica Bank raised its stake in Veeva Systems by 14.0% during the 2nd quarter. Comerica Bank now owns 4,339 shares of the technology company’s stock valued at $285,000 after acquiring an additional 534 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Veeva Systems by 2.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 34,106 shares of the technology company’s stock valued at $1,922,000 after acquiring an additional 865 shares during the last quarter. Profund Advisors LLC raised its stake in Veeva Systems by 2.6% during the 2nd quarter. Profund Advisors LLC now owns 33,904 shares of the technology company’s stock valued at $2,079,000 after acquiring an additional 872 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in Veeva Systems by 26.8% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,226 shares of the technology company’s stock valued at $248,000 after acquiring an additional 893 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.
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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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