Wall Street brokerages expect that Veeva Systems Inc (NYSE:VEEV) will announce sales of $216.19 million for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Veeva Systems’ earnings. The lowest sales estimate is $215.44 million and the highest is $219.46 million. Veeva Systems posted sales of $176.15 million during the same quarter last year, which suggests a positive year over year growth rate of 22.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, December 4th.

On average, analysts expect that Veeva Systems will report full year sales of $843.19 million for the current financial year, with estimates ranging from $841.69 million to $850.14 million. For the next year, analysts forecast that the business will post sales of $995.17 million, with estimates ranging from $978.90 million to $1.01 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Veeva Systems.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, August 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The firm had revenue of $209.60 million during the quarter, compared to analysts’ expectations of $203.50 million. Veeva Systems had a return on equity of 13.58% and a net margin of 21.23%. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share.

A number of research firms recently issued reports on VEEV. Morgan Stanley lifted their price objective on Veeva Systems from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, June 27th. Stifel Nicolaus boosted their price target on Veeva Systems from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, October 5th. Canaccord Genuity boosted their price target on Veeva Systems from $85.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. They noted that the move was a valuation call. DA Davidson boosted their price target on Veeva Systems to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Finally, SunTrust Banks started coverage on Veeva Systems in a research report on Monday, June 25th. They issued a “buy” rating and a $100.00 price target for the company. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $98.47.

VEEV traded down $0.01 during trading on Wednesday, reaching $91.62. 1,427,411 shares of the stock traded hands, compared to its average volume of 1,152,395. The stock has a market cap of $13.14 billion, a price-to-earnings ratio of 99.59, a PEG ratio of 4.31 and a beta of 1.54. Veeva Systems has a fifty-two week low of $52.17 and a fifty-two week high of $109.05.

In other news, EVP Alan Mateo sold 46,547 shares of Veeva Systems stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $85.42, for a total value of $3,976,044.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy S. Cabral sold 50,000 shares of Veeva Systems stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $101.49, for a total value of $5,074,500.00. Following the completion of the transaction, the chief financial officer now owns 30,000 shares in the company, valued at $3,044,700. The disclosure for this sale can be found here. Insiders sold 172,476 shares of company stock valued at $16,528,424 in the last ninety days. Insiders own 15.97% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. United Services Automobile Association increased its stake in shares of Veeva Systems by 2.9% in the second quarter. United Services Automobile Association now owns 18,516 shares of the technology company’s stock worth $1,423,000 after purchasing an additional 529 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Veeva Systems by 5.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 12,201 shares of the technology company’s stock worth $891,000 after purchasing an additional 634 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Veeva Systems by 13.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,400 shares of the technology company’s stock worth $415,000 after purchasing an additional 650 shares during the period. Twin Capital Management Inc. increased its stake in shares of Veeva Systems by 3.0% in the second quarter. Twin Capital Management Inc. now owns 29,080 shares of the technology company’s stock worth $2,235,000 after purchasing an additional 840 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Veeva Systems by 5.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,417 shares of the technology company’s stock worth $1,339,000 after purchasing an additional 901 shares during the period. Institutional investors and hedge funds own 75.54% of the company’s stock.

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, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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