StockNews.com upgraded shares of Veeva Systems (NYSE:VEEV – Free Report) from a hold rating to a buy rating in a report published on Thursday morning.
VEEV has been the topic of a number of other reports. Royal Bank of Canada reaffirmed an outperform rating and issued a $225.00 target price on shares of Veeva Systems in a research note on Thursday, August 31st. Wells Fargo & Company raised their target price on shares of Veeva Systems from $180.00 to $211.00 and gave the company an equal weight rating in a research note on Tuesday, September 5th. Raymond James raised their target price on shares of Veeva Systems from $210.00 to $240.00 and gave the company an outperform rating in a research note on Thursday, August 31st. Morgan Stanley downgraded shares of Veeva Systems from an equal weight rating to an underweight rating and set a $181.00 target price on the stock. in a research note on Wednesday, June 28th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $220.00 target price on shares of Veeva Systems in a research note on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of Moderate Buy and an average price target of $216.74.
Get Our Latest Stock Analysis on Veeva Systems
Veeva Systems Trading Up 4.1 %
Veeva Systems (NYSE:VEEV – Get Free Report) last announced its quarterly earnings results on Wednesday, August 30th. The technology company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. Veeva Systems had a net margin of 24.20% and a return on equity of 10.89%. The firm had revenue of $590.23 million for the quarter, compared to the consensus estimate of $582.28 million. During the same period in the prior year, the firm posted $0.56 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, sell-side analysts predict that Veeva Systems will post 2.73 earnings per share for the current year.
Insider Buying and Selling at Veeva Systems
In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $220.00, for a total transaction of $272,360.00. Following the transaction, the chief operating officer now directly owns 21,329 shares of the company’s stock, valued at approximately $4,692,380. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Matthew J. Wallach sold 5,000 shares of the business’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $199.66, for a total transaction of $998,300.00. Following the sale, the director now owns 23,735 shares in the company, valued at approximately $4,738,930.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $220.00, for a total transaction of $272,360.00. Following the sale, the chief operating officer now owns 21,329 shares in the company, valued at approximately $4,692,380. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,631 shares of company stock valued at $5,625,241. 10.98% of the stock is currently owned by company insiders.
Institutional Trading of Veeva Systems
A number of hedge funds have recently modified their holdings of VEEV. Pinnacle Bancorp Inc. bought a new stake in shares of Veeva Systems during the 1st quarter valued at $26,000. Ahrens Investment Partners LLC bought a new stake in shares of Veeva Systems during the 1st quarter valued at $27,000. Barrett & Company Inc. bought a new stake in shares of Veeva Systems during the 1st quarter valued at $28,000. Nkcfo LLC bought a new position in Veeva Systems in the 2nd quarter worth about $30,000. Finally, Resurgent Financial Advisors LLC bought a new position in Veeva Systems in the 4th quarter worth about $33,000. Institutional investors own 80.07% of the company’s stock.
About Veeva Systems
Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.
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