Veeva Systems Inc. (NYSE:VEEV)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Saturday. They currently have a $46.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential downside of 0.58% from the company’s current price.
Several other research firms have also issued reports on VEEV. Deutsche Bank AG boosted their price target on shares of Veeva Systems from $36.00 to $44.00 and gave the company a “hold” rating in a research report on Wednesday. KeyCorp boosted their price target on shares of Veeva Systems from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday. JMP Securities reissued a “hold” rating on shares of Veeva Systems in a research report on Thursday. Evercore ISI reaffirmed a “buy” rating and set a $47.00 price objective (up previously from $45.00) on shares of Veeva Systems in a research note on Saturday. Finally, Canaccord Genuity boosted their price objective on shares of 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 assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average 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 company has a market cap of $6.30 billion, a P/E ratio of 125.05 and a beta of 1.60. Veeva Systems has a 1-year low of $19.97 and a 1-year high of $46.70.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. Veeva Systems had a net margin of 12.73% and a return on equity of 12.84%. The company had revenue of $142.80 million for the quarter, compared to analyst estimates of $135.67 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The company’s quarterly revenue was up 33.6% compared to the same quarter last year. Equities analysts anticipate that Veeva Systems will post $0.63 earnings per share for the current fiscal year.
In other Veeva Systems news, Director Ronald E. F. Codd sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $41.00, for a total value of $123,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Matthew J. Wallach sold 84,000 shares of the business’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 transaction of $3,483,480.00. Following the completion of the transaction, the president now directly owns 42,000 shares of the company’s stock, valued at approximately $1,741,740. The disclosure for this sale can be found here. 19.17% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank bought a new position in Veeva Systems during the second quarter worth approximately $101,000. FineMark National Bank & Trust boosted its position in Veeva Systems by 12.7% in the second quarter. FineMark National Bank & Trust now owns 3,060 shares of the company’s stock worth $104,000 after buying an additional 346 shares in the last quarter. Advisor Group Inc. boosted its position in Veeva Systems by 105.2% in the third quarter. Advisor Group Inc. now owns 2,772 shares of the company’s stock worth $115,000 after buying an additional 1,421 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Veeva Systems by 22.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,402 shares of the company’s stock worth $140,000 after buying an additional 625 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Veeva Systems during the third quarter worth approximately $156,000. 71.12% of the stock is owned by institutional investors and hedge funds.
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