Veeva Systems (NYSE:VEEV) had its price target reduced by Deutsche Bank from $160.00 to $150.00 in a research note issued to investors on Tuesday, The Fly reports. They currently have a hold rating on the technology company’s stock. The analysts noted that the move was a valuation call.
A number of other research firms also recently weighed in on VEEV. Raymond James raised shares of Veeva Systems from a market perform rating to an outperform rating and set a $180.00 target price for the company in a research report on Thursday, September 26th. Barclays raised their target price on shares of Veeva Systems from $165.00 to $176.00 and gave the company an equal weight rating in a research report on Wednesday, November 27th. ValuEngine downgraded shares of Veeva Systems from a hold rating to a sell rating in a research report on Wednesday, December 11th. Evercore ISI reaffirmed a hold rating and issued a $170.00 target price on shares of Veeva Systems in a research report on Thursday, November 28th. Finally, Morgan Stanley raised their target price on shares of Veeva Systems from $150.00 to $160.00 and gave the company an equal weight rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $173.44.
Shares of VEEV stock opened at $145.51 on Tuesday. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $145.11 and a two-hundred day moving average of $153.56. Veeva Systems has a 52 week low of $96.74 and a 52 week high of $176.90. The company has a market cap of $21.62 billion, a P/E ratio of 117.35, a PEG ratio of 3.95 and a beta of 1.17.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Tuesday, November 26th. The technology company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.19. The company had revenue of $280.90 million for the quarter, compared to analysts’ expectations of $274.81 million. Veeva Systems had a return on equity of 17.56% and a net margin of 29.86%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. Analysts expect that Veeva Systems will post 1.64 EPS for the current fiscal year.
In other news, SVP Jonathan Faddis sold 432 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $154.65, for a total value of $66,808.80. Following the completion of the sale, the senior vice president now owns 2,050 shares in the company, valued at $317,032.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alan Mateo sold 860 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $154.65, for a total transaction of $132,999.00. Following the completion of the sale, the executive vice president now owns 17,164 shares of the company’s stock, valued at approximately $2,654,412.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,827 shares of company stock valued at $5,186,104. 14.38% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in VEEV. BlackRock Inc. raised its position in Veeva Systems by 16.3% in the 2nd quarter. BlackRock Inc. now owns 8,770,784 shares of the technology company’s stock worth $1,421,833,000 after buying an additional 1,231,904 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Veeva Systems by 260.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,328,118 shares of the technology company’s stock valued at $215,301,000 after purchasing an additional 959,268 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Veeva Systems by 2,101.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 933,268 shares of the technology company’s stock valued at $151,292,000 after purchasing an additional 890,867 shares during the period. AQR Capital Management LLC grew its stake in shares of Veeva Systems by 41.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,958,283 shares of the technology company’s stock valued at $311,054,000 after purchasing an additional 569,097 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Veeva Systems by 420.9% during the 2nd quarter. Invesco Ltd. now owns 662,832 shares of the technology company’s stock valued at $107,452,000 after purchasing an additional 535,581 shares during the period. Institutional investors own 77.40% 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, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data 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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