Veeva Systems Inc (NYSE:VEEV) has been given an average rating of “Buy” by the nineteen research firms that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $119.31.
Several research analysts recently weighed in on VEEV shares. Zacks Investment Research upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research report on Saturday, February 9th. Barclays assumed coverage on shares of Veeva Systems in a research report on Wednesday, February 20th. They set an “equal weight” rating and a $130.00 price target on the stock. DA Davidson increased their price target on shares of Veeva Systems to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. JMP Securities increased their price target on shares of Veeva Systems from $108.00 to $122.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 27th. Finally, SunTrust Banks increased their price target on shares of Veeva Systems to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th.
In other news, President Matthew J. Wallach sold 12,000 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $135.62, for a total transaction of $1,627,440.00. Following the completion of the sale, the president now owns 12,000 shares of the company’s stock, valued at $1,627,440. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 1,667 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $113.95, for a total value of $189,954.65. Following the sale, the senior vice president now directly owns 2,740 shares of the company’s stock, valued at approximately $312,223. The disclosure for this sale can be found here. Insiders have sold 115,457 shares of company stock worth $13,715,593 over the last quarter. Company insiders own 15.97% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Starfire Investment Advisers Inc. boosted its stake in shares of Veeva Systems by 50.0% during the first quarter. Starfire Investment Advisers Inc. now owns 6,000 shares of the technology company’s stock valued at $761,000 after purchasing an additional 2,000 shares during the period. Strs Ohio lifted its stake in Veeva Systems by 93.9% in the first quarter. Strs Ohio now owns 7,300 shares of the technology company’s stock worth $926,000 after acquiring an additional 3,535 shares during the period. Gulf International Bank UK Ltd lifted its stake in Veeva Systems by 2.6% in the first quarter. Gulf International Bank UK Ltd now owns 30,126 shares of the technology company’s stock worth $3,821,000 after acquiring an additional 776 shares during the period. Pennsylvania Trust Co purchased a new stake in Veeva Systems in the first quarter worth $2,156,000. Finally, IFM Investors Pty Ltd lifted its stake in Veeva Systems by 25.2% in the first quarter. IFM Investors Pty Ltd now owns 8,763 shares of the technology company’s stock worth $1,112,000 after acquiring an additional 1,763 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.
Shares of VEEV stock traded down $0.99 during trading on Monday, hitting $127.83. The company had a trading volume of 1,436,730 shares, compared to its average volume of 1,321,423. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of 103.09, a price-to-earnings-growth ratio of 5.85 and a beta of 1.72. Veeva Systems has a 52 week low of $68.11 and a 52 week high of $137.26.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Tuesday, February 26th. The technology company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The company had revenue of $232.32 million for the quarter, compared to analysts’ expectations of $227.15 million. Veeva Systems had a net margin of 26.66% and a return on equity of 16.91%. Veeva Systems’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. Equities analysts anticipate that Veeva Systems will post 1.53 earnings per share for the current fiscal year.
Veeva Systems Company Profile
Veeva Systems, Inc engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.
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