Todays Report: Today, Veeva Systems Inc. (VEEV) Given Hold Rating at JMP Securities

Today, Veeva Systems Inc. (VEEV) Given Hold Rating at JMP Securities

Veeva Systems Inc. (NYSE:VEEV)‘s stock had its “hold” rating restated by investment analysts at JMP Securities in a report issued on Thursday.

Several other brokerages also recently issued reports on VEEV. Deutsche Bank AG increased their price target on Veeva Systems from $36.00 to $44.00 and gave the stock a “hold” rating in a report on Wednesday. KeyCorp increased their price objective on Veeva Systems from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday. Canaccord Genuity increased their price objective on Veeva Systems from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus increased their price objective on Veeva Systems from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Bank of America Corp. reiterated a “hold” rating and set a $44.00 price objective on shares of Veeva Systems in a report on Friday, September 30th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Veeva Systems presently has an average rating of “Hold” and a consensus price target of $43.31.

Shares of Veeva Systems (NYSE:VEEV) traded down 0.04% on Thursday, reaching $46.27. The company’s stock had a trading volume of 1,313,702 shares. Veeva Systems has a 1-year low of $19.97 and a 1-year high of $46.70. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 125.05 and a beta of 1.60. The company’s 50 day moving average is $39.47 and its 200-day moving average is $37.23.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Tuesday, November 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, topping 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 earned $142.80 million during the quarter, compared to the consensus estimate of $135.67 million. During the same period in the prior year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 33.6% compared to the same quarter last year. Equities research analysts expect that Veeva Systems will post $0.63 EPS for the current year.

In other news, President Matthew J. Wallach sold 84,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $41.47, for a total value of $3,483,480.00. Following the completion of the sale, the president now directly owns 42,000 shares of the company’s stock, valued at $1,741,740. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy S. Cabral sold 42,441 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were 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. 19.17% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC acquired a new stake in Veeva Systems during the second quarter worth about $75,081,000. Vanguard Group Inc. boosted its stake in Veeva Systems by 26.0% in the second quarter. Vanguard Group Inc. now owns 6,180,083 shares of the company’s stock worth $210,865,000 after buying an additional 1,276,212 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in Veeva Systems by 124.4% in the second quarter. Lord Abbett & CO. LLC now owns 2,274,863 shares of the company’s stock valued at $77,618,000 after buying an additional 1,261,115 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Veeva Systems by 724.3% in the second quarter. 1832 Asset Management L.P. now owns 1,266,900 shares of the company’s stock valued at $42,615,000 after buying an additional 1,113,200 shares during the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in Veeva Systems during the second quarter valued at $36,338,000. 71.12% of the stock is owned by institutional investors.

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