Veeva Systems (VEEV) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS
Veeva Systems (NYSE:VEEV) posted its earnings results on Tuesday. The technology company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.09, Bloomberg Earnings reports. The firm 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 12.77% and a net margin of 18.98%. The firm’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. Veeva Systems updated its Q4 guidance to $0.21-0.22 EPS.
Veeva Systems (VEEV) opened at $57.77 on Wednesday. The stock has a market capitalization of $8,247.10, a P/E ratio of 100.78, a PEG ratio of 4.87 and a beta of 1.60. Veeva Systems has a twelve month low of $40.50 and a twelve month high of $68.07.
In related news, CFO Timothy S. Cabral sold 23,699 shares of Veeva Systems stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $57.43, for a total value of $1,361,033.57. Following the sale, the chief financial officer now directly owns 13,699 shares in the company, valued at $786,733.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gordon Ritter sold 9,600 shares of Veeva Systems stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $61.03, for a total value of $585,888.00. The disclosure for this sale can be found here. In the last three months, insiders sold 240,182 shares of company stock worth $13,898,852. Corporate insiders own 17.50% of the company’s stock.
Several research analysts have commented on the company. JMP Securities reaffirmed a “buy” rating and set a $70.00 price target on shares of Veeva Systems in a research report on Saturday, August 26th. Zacks Investment Research lowered Veeva Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. 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 target on shares of Veeva Systems in a research report on Friday, October 13th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price target on shares of Veeva Systems in a research report on Tuesday, August 22nd. Five equities research 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 company’s stock. The stock presently has an average rating of “Buy” and an average target price of $67.45.
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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