JMP Securities reiterated their hold rating on shares of Veeva Systems Inc. (NYSE:VEEV) in a research report released on Thursday.
VEEV has been the subject of a number of other reports. KeyCorp increased their price target on shares of Veeva Systems from $35.00 to $42.00 and gave the stock an overweight rating in a research report on Wednesday, August 31st. Morgan Stanley reissued a buy rating and issued a $44.00 price target on shares of Veeva Systems in a research report on Tuesday, August 16th. Raymond James Financial Inc. began coverage on shares of Veeva Systems in a research report on Wednesday, August 24th. They issued a market perform rating for the company. Zacks Investment Research lowered shares of Veeva Systems from a buy rating to a hold rating in a research report on Monday, September 5th. Finally, Stifel Nicolaus raised their price objective on shares of Veeva Systems from $43.00 to $45.00 and gave the company a buy rating in a research report on Friday, September 30th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $43.57.
Veeva Systems (NYSE:VEEV) opened at 46.34 on Thursday. The company has a market capitalization of $6.22 billion, a P/E ratio of 121.95 and a beta of 1.60. The firm’s 50-day moving average is $39.68 and its 200-day moving average is $37.51. Veeva Systems has a 1-year low of $19.97 and a 1-year high of $46.98.
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, topping analysts’ consensus estimates of $0.16 by $0.06. The business earned $142.80 million during 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%. The firm’s revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. Equities research analysts predict that Veeva Systems will post $0.63 EPS for the current year.
In other news, EVP Alan Mateo sold 52,339 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $45.01, for a total value of $2,355,778.39. Following the sale, the executive vice president now owns 6,409 shares in the company, valued at $288,469.09. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronald E. F. Codd sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $41.00, for a total transaction of $123,000.00. 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 company. William Blair Investment Management LLC bought a new stake in shares of Veeva Systems during the second quarter valued at about $75,081,000. Vanguard Group Inc. increased its stake in shares of Veeva Systems by 26.0% in the second quarter. Vanguard Group Inc. now owns 6,180,083 shares of the company’s stock valued at $210,865,000 after buying an additional 1,276,212 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of 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. increased its stake in shares of 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. bought a new stake in shares of Veeva Systems during the second quarter valued at about $36,338,000. Institutional investors and hedge funds own 69.20% of the company’s stock.
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