Trade Report: Today, Veeva Systems Inc. (VEEV) Given “Buy” Rating at Needham & Company LLC

Today, Veeva Systems Inc. (VEEV) Given “Buy” Rating at Needham & Company LLC

Veeva Systems Inc. (NYSE:VEEV)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Saturday. They presently have a $46.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential downside of 0.58% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Evercore ISI reaffirmed a “buy” rating and set a $47.00 target price (up previously from $45.00) on shares of Veeva Systems in a report on Saturday. JMP Securities reaffirmed a “hold” rating on shares of Veeva Systems in a report on Thursday. KeyCorp upped their target price on shares of Veeva Systems from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday. Deutsche Bank AG upped their target price on shares of Veeva Systems from $36.00 to $44.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their target price on shares of Veeva Systems from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.57.

Veeva Systems (NYSE:VEEV) opened at 46.27 on Friday. The stock’s 50 day moving average is $39.47 and its 200-day moving average is $37.23. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 125.05 and a beta of 1.60. Veeva Systems has a one year low of $19.97 and a one year high of $46.70.

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

In other Veeva Systems news, CFO Timothy S. Cabral sold 42,441 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $41.42, for a total transaction of $1,757,906.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alan Mateo sold 657 shares of the stock in a transaction on Friday, October 14th. The shares were sold at an average price of $38.21, for a total transaction of $25,103.97. Following the sale, the executive vice president now directly owns 8,184 shares of the company’s stock, valued at approximately $312,710.64. The disclosure for this sale can be found here. 19.17% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Huntington National Bank purchased a new stake in shares of Veeva Systems during the second quarter valued at $101,000. FineMark National Bank & Trust boosted its stake 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 during the last quarter. Advisor Group Inc. boosted its stake 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Veeva Systems during the third quarter valued at $156,000. 71.12% of the stock is owned by institutional investors and hedge funds.

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