Equities research analysts expect Veeva Systems Inc (NYSE:VEEV) to announce $180.13 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Veeva Systems’ earnings, with the lowest sales estimate coming in at $179.49 million and the highest estimate coming in at $182.67 million. Veeva Systems posted sales of $150.15 million in the same quarter last year, which suggests a positive year over year growth rate of 20%. The company is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, February 27th.
According to Zacks, analysts expect that Veeva Systems will report full-year sales of $180.13 million for the current fiscal year, with estimates ranging from $680.00 million to $683.32 million. For the next financial year, analysts anticipate that the business will report sales of $807.19 million per share, with estimates ranging from $803.76 million to $820.49 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Veeva Systems.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Tuesday, December 5th. The technology company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. The firm had revenue of $176.10 million for the quarter, compared to analyst estimates of $171.99 million. During the same quarter last year, the firm posted $0.22 earnings per share. Veeva Systems’s revenue for the quarter was up 23.3% compared to the same quarter last year.
VEEV has been the topic of several research reports. Morgan Stanley upgraded shares of Veeva Systems from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 30th. Zacks Investment Research lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Vetr lowered shares of Veeva Systems from a “buy” rating to a “hold” rating and set a $61.05 price objective on the stock. in a research note on Thursday, February 15th. DA Davidson began coverage on shares of Veeva Systems in a research note on Friday, February 2nd. They set a “buy” rating and a $75.00 price objective on the stock. Finally, Canaccord Genuity reiterated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a research note on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $67.54.
Veeva Systems (NYSE VEEV) traded up $0.94 during midday trading on Friday, reaching $61.28. 409,077 shares of the company traded hands, compared to its average volume of 1,007,024. Veeva Systems has a 52-week low of $41.30 and a 52-week high of $68.07. The stock has a market capitalization of $8,446.66, a price-to-earnings ratio of 71.31, a price-to-earnings-growth ratio of 6.17 and a beta of 1.66.
In related news, CFO Timothy S. Cabral sold 50,000 shares of Veeva Systems stock in a transaction on Monday, December 18th. The shares were sold at an average price of $55.74, for a total value of $2,787,000.00. Following the completion of the sale, the chief financial officer now owns 50,000 shares in the company, valued at $2,787,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alan Mateo sold 532 shares of Veeva Systems stock in a transaction on Monday, December 4th. The stock was sold at an average price of $58.11, for a total transaction of $30,914.52. Following the completion of the sale, the executive vice president now owns 8,294 shares of the company’s stock, valued at approximately $481,964.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 166,417 shares of company stock valued at $9,502,103. Insiders own 17.50% of the company’s stock.
Several large investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its holdings in Veeva Systems by 605.4% in the third quarter. IFP Advisors Inc now owns 13,347 shares of the technology company’s stock worth $753,000 after purchasing an additional 11,455 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Veeva Systems by 255.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 156,579 shares of the technology company’s stock worth $8,833,000 after purchasing an additional 112,539 shares during the period. California State Teachers Retirement System boosted its holdings in Veeva Systems by 2.5% in the second quarter. California State Teachers Retirement System now owns 195,489 shares of the technology company’s stock worth $11,985,000 after purchasing an additional 4,770 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in Veeva Systems by 133.5% in the third quarter. Dynamic Technology Lab Private Ltd now owns 31,420 shares of the technology company’s stock worth $1,772,000 after purchasing an additional 17,962 shares during the period. Finally, APG Asset Management N.V. acquired a new position in Veeva Systems in the third quarter worth $931,000. Institutional investors and hedge funds own 69.55% of the company’s stock.
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About Veeva Systems
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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