Q2 2024 EPS Estimates for Veeva Systems Inc. (NYSE:VEEV) Raised by Analyst

Posted by Defense World Staff on Jun 17th, 2023

Veeva Systems Inc. (NYSE:VEEV – Get Rating) – Research analysts at Zacks Research increased their Q2 2024 EPS estimates for shares of Veeva Systems in a research note issued on Tuesday, June 13th. Zacks Research analyst D. Dey now expects that the technology company will post earnings per share of $0.63 for the quarter, up from their previous forecast of $0.60. The consensus estimate for Veeva Systems’ current full-year earnings is $2.71 per share. Zacks Research also issued estimates for Veeva Systems’ Q3 2024 earnings at $0.74 EPS, Q4 2024 earnings at $0.77 EPS, FY2024 earnings at $2.61 EPS, Q1 2025 earnings at $0.60 EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $0.79 EPS, FY2025 earnings at $2.94 EPS, Q1 2026 earnings at $0.76 EPS and FY2026 earnings at $3.24 EPS.

Several other analysts also recently commented on VEEV. JMP Securities raised their price objective on shares of Veeva Systems from $215.00 to $230.00 and gave the stock a “market outperform” rating in a research report on Thursday, March 2nd. Truist Financial increased their price target on Veeva Systems from $195.00 to $204.00 in a report on Thursday, June 8th. Piper Sandler boosted their price objective on Veeva Systems from $212.00 to $215.00 in a report on Thursday, June 1st. TD Cowen increased their target price on Veeva Systems from $184.00 to $189.00 and gave the stock a “market perform” rating in a report on Monday, March 6th. Finally, UBS Group decreased their price target on shares of Veeva Systems from $190.00 to $175.00 in a research note on Monday, May 22nd. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $205.65.

Veeva Systems Stock Down 0.6 %

Shares of VEEV stock opened at $200.06 on Friday. The company has a market cap of $32.05 billion, a price-to-earnings ratio of 62.52, a price-to-earnings-growth ratio of 3.54 and a beta of 0.92. Veeva Systems has a 52 week low of $151.02 and a 52 week high of $232.26. The firm has a 50 day moving average of $179.10 and a 200-day moving average of $173.67.

Institutional Trading of Veeva Systems

Several hedge funds have recently added to or reduced their stakes in VEEV. Macquarie Group Ltd. boosted its position in Veeva Systems by 66.1% during the first quarter. Macquarie Group Ltd. now owns 313,575 shares of the technology company’s stock worth $57,632,000 after purchasing an additional 124,804 shares during the period. Legato Capital Management LLC boosted its position in Veeva Systems by 37.0% during the first quarter. Legato Capital Management LLC now owns 3,700 shares of the technology company’s stock worth $680,000 after purchasing an additional 1,000 shares during the period. Seaport Global Advisors LLC boosted its position in Veeva Systems by 31.3% during the first quarter. Seaport Global Advisors LLC now owns 3,480 shares of the technology company’s stock worth $640,000 after purchasing an additional 829 shares during the period. Toroso Investments LLC boosted its position in Veeva Systems by 7.0% during the first quarter. Toroso Investments LLC now owns 2,237 shares of the technology company’s stock worth $411,000 after purchasing an additional 146 shares during the period. Finally, Putnam Investments LLC boosted its position in Veeva Systems by 42.0% during the first quarter. Putnam Investments LLC now owns 62,575 shares of the technology company’s stock worth $11,501,000 after purchasing an additional 18,513 shares during the period. Institutional investors own 78.76% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, Director Paul Edward Chamberlain sold 160 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $189.22, for a total value of $30,275.20. Following the completion of the sale, the director now directly owns 16,942 shares of the company’s stock, valued at approximately $3,205,765.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Veeva Systems news, CAO Michele O’connor sold 3,137 shares of Veeva Systems stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $197.95, for a total value of $620,969.15. Following the sale, the chief accounting officer now owns 8,433 shares of the company’s stock, valued at $1,669,312.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 160 shares of Veeva Systems stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $189.22, for a total transaction of $30,275.20. Following the completion of the sale, the director now directly owns 16,942 shares in the company, valued at approximately $3,205,765.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,333 shares of company stock valued at $3,059,046. Corporate insiders own 10.98% of the company’s stock.

About Veeva Systems

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Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.