Veeva Systems Inc (NYSE:VEEV) – Stock analysts at DA Davidson raised their Q4 2019 earnings per share (EPS) estimates for Veeva Systems in a research note issued on Thursday, November 29th. DA Davidson analyst R. Jaluria now expects that the technology company will earn $0.30 per share for the quarter, up from their prior forecast of $0.28. DA Davidson has a “Buy” rating and a $120.00 price objective on the stock. DA Davidson also issued estimates for Veeva Systems’ Q1 2020 earnings at $0.32 EPS, Q2 2020 earnings at $0.33 EPS, Q4 2020 earnings at $0.37 EPS, Q1 2021 earnings at $0.38 EPS and Q2 2021 earnings at $0.38 EPS.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $117.00 price target for the company in a report on Wednesday, August 29th. ValuEngine upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Morgan Stanley boosted their price target on Veeva Systems from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 24th. They noted that the move was a valuation call. William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a research report on Monday, October 8th. Finally, Guggenheim started coverage on Veeva Systems in a report on Tuesday, August 7th. They set a “buy” rating and a $100.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $101.80.
Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, November 28th. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business had revenue of $224.70 million for the quarter, compared to analysts’ expectations of $216.04 million. Veeva Systems had a net margin of 23.61% and a return on equity of 16.20%. The company’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period last year, the company earned $0.25 earnings per share.
In related news, President Matthew J. Wallach sold 12,000 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $90.72, for a total transaction of $1,088,640.00. Following the transaction, the president now owns 12,000 shares in the company, valued at approximately $1,088,640. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alan Mateo sold 981 shares of the business’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $92.07, for a total value of $90,320.67. Following the transaction, the executive vice president now owns 14,342 shares in the company, valued at approximately $1,320,467.94. The disclosure for this sale can be found here. Insiders sold 122,929 shares of company stock valued at $12,321,740 over the last ninety days. Corporate insiders own 15.97% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in VEEV. Reynders McVeigh Capital Management LLC increased its stake in shares of Veeva Systems by 22.2% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 31,690 shares of the technology company’s stock worth $3,450,000 after purchasing an additional 5,760 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Veeva Systems by 3.9% during the 3rd quarter. Legal & General Group Plc now owns 146,080 shares of the technology company’s stock valued at $15,904,000 after purchasing an additional 5,420 shares during the last quarter. Paradigm Asset Management Co. LLC bought a new position in shares of Veeva Systems in the 3rd quarter valued at about $125,000. Griffin Asset Management Inc. bought a new position in shares of Veeva Systems in the 3rd quarter valued at about $294,000. Finally, Nordea Investment Management AB raised its position in Veeva Systems by 3.2% in the 3rd quarter. Nordea Investment Management AB now owns 157,347 shares of the technology company’s stock worth $17,131,000 after purchasing an additional 4,947 shares during the period. Institutional investors own 76.66% of the company’s stock.
About Veeva Systems
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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