Today: Veeva Systems Inc. (VEEV) Now Covered by JMP Securities

Today: Veeva Systems Inc. (VEEV) Now Covered by JMP Securities

Equities research analysts at JMP Securities assumed coverage on shares of Veeva Systems Inc. (NYSE:VEEV) in a report issued on Thursday. The brokerage set a “market perform” rating on the stock.

Several other research analysts have also commented on VEEV. Canaccord Genuity reaffirmed a “buy” rating and set a $46.00 price target (up previously from $43.00) on shares of Veeva Systems in a research report on Tuesday, October 4th. Stifel Nicolaus boosted their target price on Veeva Systems from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 31st. Pacific Crest set a $42.00 target price on Veeva Systems and gave the company a “buy” rating in a report on Wednesday, August 31st. KeyCorp boosted their target price on Veeva Systems from $35.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, August 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $46.00 target price (up previously from $43.00) 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 given a buy rating to the stock. Veeva Systems currently has a consensus rating of “Hold” and a consensus target price of $41.46.

Veeva Systems (NYSE:VEEV) opened at 37.88 on Thursday. Veeva Systems has a 12 month low of $19.97 and a 12 month high of $42.58. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 102.38 and a beta of 1.58. The stock’s 50 day moving average price is $40.17 and its 200-day moving average price is $34.38.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Tuesday, August 30th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $131.30 million for the quarter, compared to analyst estimates of $126.61 million. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The firm’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. Equities research analysts predict that Veeva Systems will post $0.60 EPS for the current year.

In other news, President Matthew J. Wallach sold 84,000 shares of the company’s stock in a transaction 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 sale, the president now directly owns 42,000 shares in the company, valued at $1,741,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Sekhri sold 17,593 shares of the company’s stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $37.73, for a total value of $663,783.89. Following the completion of the sale, the director now owns 21,108 shares in the company, valued at $796,404.84. The disclosure for this sale can be found here. Company insiders own 19.17% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. FineMark National Bank & Trust increased 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 in the last quarter. Legal & General Group Plc increased its stake in shares of Veeva Systems by 6.8% in the second quarter. Legal & General Group Plc now owns 6,800 shares of the company’s stock valued at $232,000 after buying an additional 433 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in Veeva Systems by 4.0% in the second quarter. Public Employees Retirement Association of Colorado now owns 20,681 shares of the company’s stock valued at $706,000 after buying an additional 803 shares during the period. Teacher Retirement System of Texas increased its position in Veeva Systems by 9.6% in the second quarter. Teacher Retirement System of Texas now owns 10,218 shares of the company’s stock valued at $349,000 after buying an additional 898 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in Veeva Systems by 35.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,221 shares of the company’s stock valued at $246,000 after buying an additional 1,898 shares during the period. Institutional investors and hedge funds own 70.67% of the company’s stock.

Veeva Systems Company Profile

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