Veeva Systems (VEEV) Earning Favorable Press Coverage, Report Shows
News headlines about Veeva Systems (NYSE:VEEV) have been trending positive recently, AlphaOne Sentiment reports. AlphaOne, a division of Accern, identifies positive and negative media coverage by monitoring more than twenty million blog and news sources in real time. AlphaOne ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Veeva Systems earned a news sentiment score of 0.45 on AlphaOne’s scale. AlphaOne also assigned press coverage about the technology company an impact score of 54 out of 100, indicating that recent media coverage is somewhat likely to have an effect on the stock’s share price in the next several days.
Here are some of the news stories that may have impacted Alpha One Sentiment’s analysis:
- Veeva : Standardizing on Veeva Vault Enhances Regeneron’s Clinical and Regulatory Operations Processes (4-traders.com)
- Veeva Unifies Submission Content Planning and Authoring to Streamline Submission Development (finance.yahoo.com)
- Veeva Vault CTMS Gains Momentum as Industry Moves to Unify Clinical Applications and Processes (finance.yahoo.com)
- Industry Survey Reveals 99% of Clinical Operations Leaders Report the Need to Unify Their Clinical Applications (finance.yahoo.com)
Veeva Systems (NYSE VEEV) traded down 0.1609% during trading on Tuesday, reaching $62.2497. 598,758 shares of the company were exchanged. Veeva Systems has a one year low of $32.61 and a one year high of $68.07. The firm’s 50 day moving average price is $59.96 and its 200-day moving average price is $49.34. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 100.2411 and a beta of 1.63.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, May 25th. The technology company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Veeva Systems had a net margin of 15.86% and a return on equity of 12.28%. The company had revenue of $157.90 million for the quarter, compared to the consensus estimate of $151.82 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 31.8% on a year-over-year basis. On average, equities research analysts predict that Veeva Systems will post $0.83 earnings per share for the current year.
Several equities analysts have recently weighed in on the stock. Morgan Stanley lowered shares of Veeva Systems from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $53.00 to $68.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating and issued a $67.00 price objective (up from $60.00) on shares of Veeva Systems in a research report on Sunday, May 21st. Deutsche Bank AG reissued a “hold” rating and issued a $55.00 price objective on shares of Veeva Systems in a research report on Tuesday, May 30th. Needham & Company LLC increased their price objective on shares of Veeva Systems from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, March 1st. Finally, Bank of America Corporation raised shares of Veeva Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $48.00 to $70.00 in a research report on Friday, May 26th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $62.00.
In other news, EVP Alan Mateo sold 10,083 shares of the company’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $50.57, for a total transaction of $509,897.31. Following the sale, the executive vice president now directly owns 8,479 shares in the company, valued at $428,783.03. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Frederic Lequient sold 1,088 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $65.06, for a total value of $70,785.28. Following the sale, the senior vice president now owns 2,875 shares in the company, valued at $187,047.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 285,605 shares of company stock worth $16,643,204. Company insiders own 17.50% of the company’s stock.
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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