Wall Street brokerages predict that Veeva Systems (NYSE:VEEV) will post $0.30 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Veeva Systems’ earnings. The highest EPS estimate is $0.31 and the lowest is $0.30. Veeva Systems posted earnings of $0.22 per share in the same quarter last year, which would suggest a positive year over year growth rate of 36.4%. The firm is expected to issue its next earnings results on Thursday, May 24th.
On average, analysts expect that Veeva Systems will report full-year earnings of $1.32 per share for the current year, with EPS estimates ranging from $1.30 to $1.33. For the next fiscal year, analysts anticipate that the business will post earnings of $1.54 per share, with EPS estimates ranging from $1.48 to $1.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Veeva Systems.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Tuesday, February 27th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Veeva Systems had a net margin of 20.71% and a return on equity of 11.89%. The business had revenue of $184.92 million during the quarter, compared to the consensus estimate of $180.13 million.
VEEV has been the subject of a number of research analyst reports. Morgan Stanley upgraded shares of Veeva Systems from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 30th. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research note on Wednesday, February 21st. Vetr upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 target price for the company in a research note on Thursday, February 8th. JPMorgan Chase downgraded shares of Veeva Systems from an “overweight” rating to a “neutral” rating in a research note on Friday, March 9th. Finally, JMP Securities lifted their target price on shares of Veeva Systems from $74.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, March 23rd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $72.23.
In related news, President Matthew J. Wallach sold 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $57.36, for a total transaction of $1,376,640.00. Following the completion of the transaction, the president now owns 24,000 shares of the company’s stock, valued at $1,376,640. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Timothy S. Cabral sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $77.01, for a total transaction of $3,080,400.00. Following the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $2,310,300. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 196,733 shares of company stock valued at $14,341,000. 17.50% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Fred Alger Management Inc. lifted its position in Veeva Systems by 9.1% during the fourth quarter. Fred Alger Management Inc. now owns 1,024,930 shares of the technology company’s stock valued at $56,658,000 after purchasing an additional 85,781 shares during the last quarter. OppenheimerFunds Inc. lifted its position in Veeva Systems by 1.7% during the fourth quarter. OppenheimerFunds Inc. now owns 708,052 shares of the technology company’s stock valued at $39,141,000 after purchasing an additional 11,851 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Veeva Systems by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 638,077 shares of the technology company’s stock valued at $35,273,000 after purchasing an additional 4,568 shares during the last quarter. Renaissance Technologies LLC lifted its position in Veeva Systems by 80.7% during the fourth quarter. Renaissance Technologies LLC now owns 635,200 shares of the technology company’s stock valued at $35,114,000 after purchasing an additional 283,688 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in Veeva Systems by 39.5% during the fourth quarter. Baird Financial Group Inc. now owns 563,231 shares of the technology company’s stock valued at $31,135,000 after purchasing an additional 159,536 shares during the last quarter. Institutional investors and hedge funds own 73.29% of the company’s stock.
NYSE VEEV traded down $0.66 during trading hours on Wednesday, reaching $69.42. 723,840 shares of the company were exchanged, compared to its average volume of 1,171,430. Veeva Systems has a 1 year low of $52.17 and a 1 year high of $78.28. The company has a market capitalization of $10,240.30, a PE ratio of 75.46, a price-to-earnings-growth ratio of 4.36 and a beta of 1.39.
Veeva Systems Company Profile
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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