Shares of Veeva Systems Inc (NYSE:VEEV) hit a new 52-week high and low during mid-day trading on Thursday . The stock traded as low as $83.70 and last traded at $83.18, with a volume of 36536 shares changing hands. The stock had previously closed at $82.19.
VEEV has been the topic of several research analyst reports. JMP Securities lifted their target price on shares of Veeva Systems from $74.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, March 23rd. Zacks Investment Research lowered shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 1st. William Blair restated an “outperform” rating on shares of Veeva Systems in a research report on Wednesday, February 21st. KeyCorp restated an “overweight” rating and set a $81.00 price target (up from $70.00) on shares of Veeva Systems in a research report on Friday, March 2nd. Finally, Morgan Stanley boosted their price target on shares of Veeva Systems from $72.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, March 1st. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Veeva Systems presently has an average rating of “Buy” and a consensus target price of $76.82.
The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 90.25, a PEG ratio of 4.41 and a beta of 1.42.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, May 24th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $195.55 million for the quarter, compared to analyst estimates of $188.92 million. Veeva Systems had a net margin of 20.78% and a return on equity of 12.47%. Veeva Systems’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. equities analysts expect that Veeva Systems Inc will post 1.02 earnings per share for the current fiscal year.
In other Veeva Systems news, Director Paul J. Sekhri sold 1,108 shares of the business’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $75.46, for a total value of $83,609.68. Following the transaction, the director now directly owns 13,046 shares in the company, valued at approximately $984,451.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy S. Cabral sold 50,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $81.75, for a total transaction of $4,087,500.00. Following the completion of the transaction, the chief financial officer now owns 30,000 shares in the company, valued at $2,452,500. The disclosure for this sale can be found here. Insiders sold a total of 77,916 shares of company stock worth $6,220,059 over the last quarter. 15.97% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Champlain Investment Partners LLC raised its stake in shares of Veeva Systems by 154.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,109,730 shares of the technology company’s stock valued at $81,032,000 after acquiring an additional 672,790 shares during the period. Bamco Inc. NY raised its stake in shares of Veeva Systems by 767.9% in the 4th quarter. Bamco Inc. NY now owns 424,253 shares of the technology company’s stock valued at $23,453,000 after acquiring an additional 375,371 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Veeva Systems in the 1st quarter valued at approximately $22,161,000. Renaissance Technologies LLC raised its stake in shares of Veeva Systems by 80.7% in the 4th quarter. Renaissance Technologies LLC now owns 635,200 shares of the technology company’s stock valued at $35,114,000 after acquiring an additional 283,688 shares during the period. Finally, Chicago Capital LLC purchased a new stake in shares of Veeva Systems in the 1st quarter valued at approximately $17,732,000. Institutional investors own 74.01% 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, 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.
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