Veeva Systems Inc. (VEEV) Stock Rating Reaffirmed by JMP Securities
JMP Securities reaffirmed their buy rating on shares of Veeva Systems Inc. (NYSE:VEEV) in a report released on Saturday. They currently have a $70.00 price objective on the technology company’s stock.
Several other equities analysts also recently commented on the stock. Morgan Stanley downgraded shares of Veeva Systems from an overweight rating to an equal weight rating and upped their price target for the company from $53.00 to $68.00 in a report on Monday, June 5th. They noted that the move was a valuation call. Bank of America Corporation upgraded shares of Veeva Systems from a neutral rating to a buy rating and upped their price target for the company from $48.00 to $70.00 in a report on Friday, May 26th. Deutsche Bank AG reiterated a hold rating and set a $55.00 price target on shares of Veeva Systems in a report on Tuesday, May 30th. BidaskClub downgraded shares of Veeva Systems from a strong-buy rating to a buy rating in a report on Tuesday, June 13th. Finally, Zacks Investment Research downgraded shares of Veeva Systems from a strong-buy rating to a hold rating in a report on Thursday, July 27th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Veeva Systems presently has a consensus rating of Buy and an average target price of $64.77.
Shares of Veeva Systems (NYSE:VEEV) opened at 57.13 on Friday. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 73.06 and a beta of 1.63. Veeva Systems has a 12 month low of $36.55 and a 12 month high of $68.07. The company’s 50-day moving average price is $63.17 and its 200-day moving average price is $56.06.
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 analysts’ consensus estimates of $0.20 by $0.03. Veeva Systems had a net margin of 18.98% and a return on equity of 13.31%. The firm had revenue of $166.59 million for the quarter, compared to the consensus estimate of $164.26 million. During the same period in the previous year, the firm posted $0.15 EPS. The business’s quarterly revenue was up 26.8% on a year-over-year basis. Analysts anticipate that Veeva Systems will post $0.86 EPS for the current year.
In other news, SVP Frederic Lequient sold 1,088 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $65.06, for a total value of $70,785.28. Following the completion of the sale, the senior vice president now owns 2,875 shares of the company’s stock, valued at approximately $187,047.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alan Mateo sold 1,181 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $65.06, for a total transaction of $76,835.86. Following the completion of the sale, the executive vice president now directly owns 7,420 shares of the company’s stock, valued at approximately $482,745.20. The disclosure for this sale can be found here. Insiders sold a total of 240,996 shares of company stock valued at $15,233,397 in the last ninety days. Corporate insiders own 17.50% of the company’s stock.
A number of large investors have recently bought and sold shares of VEEV. ETF Managers Group LLC purchased a new stake in Veeva Systems during the second quarter worth approximately $101,000. Robeco Institutional Asset Management B.V. purchased a new stake in Veeva Systems during the second quarter worth approximately $102,000. LS Investment Advisors LLC purchased a new stake in Veeva Systems during the second quarter worth approximately $105,000. Huntington National Bank boosted its stake in Veeva Systems by 10.6% in the second quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock worth $164,000 after buying an additional 256 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. boosted its stake 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 worth $172,000 after buying an additional 2,300 shares during the last quarter. 71.50% of the stock is owned by institutional investors.
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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