Veeva Systems (VEEV) Reaches New 12-Month High at $122.12

Veeva Systems Inc (NYSE:VEEV) hit a new 52-week high on Monday . The stock traded as high as $122.12 and last traded at $120.81, with a volume of 1012232 shares changing hands. The stock had previously closed at $120.60.

VEEV has been the topic of several research analyst reports. ValuEngine upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Stephens initiated coverage on shares of Veeva Systems in a research report on Wednesday, January 16th. They issued an “equal weight” rating and a $113.00 price objective on the stock. Bank of America restated a “buy” rating and issued a $120.00 price objective (up from $110.00) on shares of Veeva Systems in a research report on Thursday, November 29th. KeyCorp upped their price objective on shares of Veeva Systems from $108.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, November 29th. Finally, Morgan Stanley decreased their price objective on shares of Veeva Systems from $113.00 to $109.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 23rd. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Veeva Systems presently has an average rating of “Buy” and an average price target of $106.75.

The stock has a market cap of $17.55 billion, a P/E ratio of 131.32, a P/E/G ratio of 4.47 and a beta of 1.72.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, November 28th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates 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 15.51%. The business’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. Equities analysts expect that Veeva Systems Inc will post 1.19 earnings per share for the current fiscal year.

In other Veeva Systems news, President Matthew J. Wallach sold 12,000 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $117.64, for a total value of $1,411,680.00. Following the completion of the transaction, the president now owns 12,000 shares in the company, valued at $1,411,680. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alan Mateo sold 538 shares of the stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $98.55, for a total value of $53,019.90. Following the completion of the transaction, the executive vice president now owns 25,167 shares of the company’s stock, valued at approximately $2,480,207.85. The disclosure for this sale can be found here. Insiders sold 182,261 shares of company stock valued at $16,898,031 in the last ninety days. 15.97% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of VEEV. Ffcm LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at $26,000. Bollard Group LLC purchased a new position in shares of Veeva Systems during the 4th quarter valued at about $27,000. Private Capital Group LLC lifted its position in shares of Veeva Systems by 508.6% during the 4th quarter. Private Capital Group LLC now owns 353 shares of the technology company’s stock valued at $32,000 after buying an additional 295 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Veeva Systems by 319.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 394 shares of the technology company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Finally, Ruggie Capital Group purchased a new position in shares of Veeva Systems during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 76.68% of the company’s stock.

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Veeva Systems Company Profile (NYSE:VEEV)

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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