Veeva Systems (VEEV) Upgraded at Vetr

Vetr upgraded shares of Veeva Systems (NYSE:VEEV) from a buy rating to a strong-buy rating in a report released on Thursday. The brokerage currently has $61.05 price objective on the technology company’s stock.

VEEV has been the topic of several other reports. Zacks Investment Research cut Veeva Systems from a buy rating to a hold rating in a research report on Tuesday, October 24th. Needham & Company LLC reaffirmed a buy rating on shares of Veeva Systems in a research report on Thursday, October 12th. DA Davidson began coverage on Veeva Systems in a research report on Friday, February 2nd. They issued a buy rating and a $75.00 price objective on the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $67.00 price objective on shares of Veeva Systems in a research report on Friday, October 13th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $70.00 price objective on shares of Veeva Systems in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $67.54.

Veeva Systems (VEEV) traded up $0.08 during mid-day trading on Thursday, reaching $54.40. The company had a trading volume of 51,972 shares, compared to its average volume of 964,436. The company has a market cap of $7,680.00, a PE ratio of 60.29, a PEG ratio of 5.74 and a beta of 1.66. Veeva Systems has a fifty-two week low of $41.30 and a fifty-two week high of $68.07.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.09. The business had revenue of $176.10 million for the quarter, compared to analysts’ expectations of $171.99 million. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. research analysts forecast that Veeva Systems will post 0.68 EPS for the current fiscal year.

In other news, President Matthew J. Wallach sold 24,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $60.98, for a total value of $1,463,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Frederic Lequient sold 2,875 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $57.32, for a total value of $164,795.00. Following the completion of the sale, the senior vice president now owns 3,399 shares of the company’s stock, valued at $194,830.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,017 shares of company stock valued at $10,171,895. Company insiders own 19.17% of the company’s stock.

Several large investors have recently bought and sold shares of the company. First Trust Advisors LP increased its stake in shares of Veeva Systems by 6.1% in the 3rd quarter. First Trust Advisors LP now owns 2,212,827 shares of the technology company’s stock worth $124,826,000 after purchasing an additional 126,869 shares in the last quarter. State Street Corp increased its stake in shares of Veeva Systems by 52.1% in the 2nd quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock worth $113,851,000 after purchasing an additional 635,842 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Veeva Systems by 2.2% in the 3rd quarter. New York State Common Retirement Fund now owns 1,619,820 shares of the technology company’s stock worth $91,374,000 after purchasing an additional 35,073 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Veeva Systems by 18.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 633,509 shares of the technology company’s stock worth $35,737,000 after purchasing an additional 97,686 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Veeva Systems by 85.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 606,728 shares of the technology company’s stock worth $34,226,000 after purchasing an additional 279,769 shares in the last quarter. Hedge funds and other institutional investors own 70.84% of the company’s stock.

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About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

To view Vetr’s full report, visit Vetr’s official website.

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