Today, Veeva Systems’ (VEEV) Hold Rating Reiterate at JMP Securities

Today, Veeva Systems’ (VEEV) Hold Rating Reiterate at JMP Securities

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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