Veeva Systems Inc. (VEEV) Receives $65.45 Consensus Target Price from Analysts
Veeva Systems Inc. (NYSE:VEEV) has earned a consensus rating of “Buy” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $65.45.
Several research firms have weighed in on VEEV. BidaskClub lowered shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 14th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a report on Friday, August 25th. JMP Securities reiterated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a report on Saturday, August 26th. KeyCorp reiterated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a report on Friday, August 25th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a report on Tuesday, August 22nd.
Veeva Systems (VEEV) traded down 0.82% on Friday, reaching $55.68. 652,021 shares of the company’s stock traded hands. Veeva Systems has a 52-week low of $36.55 and a 52-week high of $68.07. The firm has a market capitalization of $7.83 billion, a PE ratio of 71.20 and a beta of 1.65. The firm’s 50 day moving average price is $60.34 and its 200 day moving average price is $57.80.
Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The company had revenue of $166.59 million for the quarter, compared to analyst estimates of $164.26 million. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period last year, the business posted $0.15 earnings per share. On average, analysts predict that Veeva Systems will post $0.87 EPS for the current fiscal year.
In related news, insider Eleni Nitsa Zuppas sold 1,329 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $58.74, for a total value of $78,065.46. Following the completion of the transaction, the insider now owns 9,528 shares of the company’s stock, valued at $559,674.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Alan Mateo sold 528 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $58.74, for a total transaction of $31,014.72. Following the completion of the transaction, the executive vice president now directly owns 6,985 shares of the company’s stock, valued at approximately $410,298.90. The disclosure for this sale can be found here. Insiders have sold 263,040 shares of company stock valued at $15,778,901 in the last three months. 19.17% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in VEEV. ETF Managers Group LLC bought a new position in Veeva Systems in the second quarter valued at $101,000. Robeco Institutional Asset Management B.V. bought a new position in Veeva Systems in the second quarter valued at $102,000. LS Investment Advisors LLC bought a new position in Veeva Systems in the second quarter valued at $105,000. Huntington National Bank grew its position in Veeva Systems by 10.6% in the second quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock valued at $164,000 after purchasing an additional 256 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. grew its position in Veeva Systems by 460.0% in the second quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock valued at $172,000 after purchasing an additional 2,300 shares in the last quarter. 71.46% of the stock is owned by institutional investors and hedge funds.
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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