Today, Evercore ISI Reiterates “Buy” Rating for Veeva Systems Inc. (VEEV)

Today, Evercore ISI Reiterates “Buy” Rating for Veeva Systems Inc. (VEEV)

Veeva Systems Inc. (NYSE:VEEV)‘s stock had its “buy” rating reiterated by investment analysts at Evercore ISI in a research note issued to investors on Saturday. They currently have a $47.00 price target on the stock, up from their previous price target of $45.00. Evercore ISI’s price target points to a potential upside of 1.58% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. JMP Securities reiterated a “hold” rating on shares of Veeva Systems in a research note on Thursday. KeyCorp lifted their target price on Veeva Systems from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank AG lifted their target price on Veeva Systems from $36.00 to $44.00 and gave the company a “hold” rating in a research note on Wednesday. Stifel Nicolaus lifted their target price on Veeva Systems from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity lifted their target price on Veeva Systems from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $43.57.

Veeva Systems (NYSE:VEEV) opened at 46.27 on Friday. The company has a 50-day moving average price of $39.47 and a 200 day moving average price of $37.23. Veeva Systems has a 1-year low of $19.97 and a 1-year high of $46.70. The firm has a market capitalization of $6.30 billion, a P/E ratio of 125.05 and a beta of 1.60.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, November 22nd. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. Veeva Systems had a return on equity of 12.84% and a net margin of 12.73%. The company had revenue of $142.80 million for the quarter, compared to the consensus estimate of $135.67 million. During the same period last year, the business posted $0.12 EPS. The company’s revenue was up 33.6% on a year-over-year basis. Analysts expect that Veeva Systems will post $0.63 earnings per share for the current fiscal year.

In related news, EVP Alan Mateo sold 44,177 shares of Veeva Systems stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $40.55, for a total transaction of $1,791,377.35. Following the completion of the transaction, the executive vice president now directly owns 5,805 shares of the company’s stock, valued at $235,392.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Timothy S. Cabral sold 42,441 shares of Veeva Systems stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $41.42, for a total value of $1,757,906.22. The disclosure for this sale can be found here. Corporate insiders own 19.17% of the company’s stock.

A number of institutional investors have recently modified their holdings of VEEV. Huntington National Bank purchased a new position in shares of Veeva Systems during the second quarter valued at about $101,000. FineMark National Bank & Trust boosted its position in shares of Veeva Systems by 12.7% in the second quarter. FineMark National Bank & Trust now owns 3,060 shares of the company’s stock valued at $104,000 after buying an additional 346 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Veeva Systems by 105.2% in the third quarter. Advisor Group Inc. now owns 2,772 shares of the company’s stock valued at $115,000 after buying an additional 1,421 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Veeva Systems by 22.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,402 shares of the company’s stock valued at $140,000 after buying an additional 625 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Veeva Systems during the third quarter valued at about $156,000. 71.12% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Company Profile

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