Veeva Systems (VEEV) Receives $72.42 Consensus PT from Analysts

Veeva Systems (NYSE:VEEV) has been assigned a consensus rating of “Buy” from the seventeen analysts that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $72.42.

A number of equities research analysts have commented on VEEV shares. JMP Securities increased their price objective on shares of Veeva Systems from $74.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, March 23rd. Morgan Stanley raised shares of Veeva Systems from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 30th. William Blair reissued an “outperform” rating on shares of Veeva Systems in a report on Wednesday, February 21st. KeyCorp reissued an “overweight” rating and set a $81.00 price objective (up previously from $70.00) on shares of Veeva Systems in a report on Friday, March 2nd. Finally, ValuEngine raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, April 2nd.

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In related news, EVP Alan Mateo sold 701 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $58.85, for a total transaction of $41,253.85. Following the completion of the sale, the executive vice president now directly owns 9,512 shares of the company’s stock, valued at approximately $559,781.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eleni Nitsa Zuppas sold 49,793 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $77.28, for a total value of $3,848,003.04. Following the sale, the insider now directly owns 12,398 shares of the company’s stock, valued at $958,117.44. The disclosure for this sale can be found here. Insiders sold a total of 184,831 shares of company stock worth $13,440,162 over the last quarter. 17.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Champlain Investment Partners LLC acquired a new stake in Veeva Systems during the 4th quarter valued at $24,154,000. Janus Henderson Group PLC lifted its holdings in Veeva Systems by 202.7% during the 3rd quarter. Janus Henderson Group PLC now owns 594,544 shares of the technology company’s stock valued at $33,538,000 after purchasing an additional 398,149 shares during the last quarter. Bamco Inc. NY lifted its holdings in Veeva Systems by 767.9% during the 4th quarter. Bamco Inc. NY now owns 424,253 shares of the technology company’s stock valued at $23,453,000 after purchasing an additional 375,371 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Veeva Systems by 80.7% during the 4th quarter. Renaissance Technologies LLC now owns 635,200 shares of the technology company’s stock valued at $35,114,000 after purchasing an additional 283,688 shares during the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in Veeva Systems during the 3rd quarter valued at $13,164,000. 73.09% of the stock is owned by institutional investors and hedge funds.

Shares of VEEV traded up $1.43 during trading hours on Thursday, hitting $71.98. The stock had a trading volume of 485,471 shares, compared to its average volume of 1,201,362. Veeva Systems has a 52 week low of $50.09 and a 52 week high of $78.28. The firm has a market cap of $10,024.05, a price-to-earnings ratio of 77.98, a PEG ratio of 4.27 and a beta of 1.39.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, February 27th. The technology company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Veeva Systems had a net margin of 20.71% and a return on equity of 11.89%. The business had revenue of $184.92 million for the quarter, compared to analyst estimates of $180.13 million. sell-side analysts predict that Veeva Systems will post 0.98 EPS for the current fiscal year.

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Veeva Systems Company Profile

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, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.

Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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