SunTrust Banks set a $180.00 price objective on Veeva Systems (NYSE:VEEV) in a research report sent to investors on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the technology company’s stock.
Other analysts also recently issued reports about the company. Morgan Stanley raised their price objective on Veeva Systems from $152.00 to $154.00 and gave the stock an equal weight rating in a research report on Monday, September 23rd. Bank of America raised their price objective on Veeva Systems from $160.00 to $192.00 and gave the stock a buy rating in a research report on Monday, June 10th. Deutsche Bank raised their price objective on Veeva Systems from $115.00 to $135.00 and gave the stock a hold rating in a research report on Thursday, May 30th. Needham & Company LLC raised their price objective on Veeva Systems from $150.00 to $187.00 and gave the stock a buy rating in a research report on Wednesday, August 28th. Finally, KeyCorp raised their price objective on Veeva Systems from $172.00 to $190.00 and gave the stock an overweight rating in a research report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Veeva Systems currently has an average rating of Buy and a consensus target price of $168.33.
Shares of VEEV traded up $3.11 during midday trading on Friday, reaching $152.69. The company had a trading volume of 1,446,990 shares, compared to its average volume of 1,428,495. Veeva Systems has a 1-year low of $79.26 and a 1-year high of $176.90. The stock has a market cap of $22.88 billion, a PE ratio of 123.14, a price-to-earnings-growth ratio of 5.02 and a beta of 1.32. The firm has a 50 day simple moving average of $154.66 and a 200-day simple moving average of $150.51. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 0.01.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, August 27th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Veeva Systems had a return on equity of 18.10% and a net margin of 29.72%. The business had revenue of $266.90 million during the quarter, compared to the consensus estimate of $259.35 million. During the same period last year, the company earned $0.39 EPS. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Veeva Systems will post 1.62 earnings per share for the current fiscal year.
In related news, EVP Alan Mateo sold 867 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $175.58, for a total transaction of $152,227.86. Following the completion of the transaction, the executive vice president now directly owns 20,620 shares in the company, valued at approximately $3,620,459.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Eleni Nitsa Zuppas sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $142.00, for a total value of $426,000.00. Following the transaction, the chief marketing officer now owns 13,821 shares of the company’s stock, valued at $1,962,582. The disclosure for this sale can be found here. Insiders have sold a total of 67,718 shares of company stock valued at $10,861,843 over the last 90 days. 14.38% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Veeva Systems by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 266,853 shares of the technology company’s stock valued at $23,834,000 after buying an additional 4,441 shares during the period. Comerica Bank boosted its stake in shares of Veeva Systems by 40.8% in the 1st quarter. Comerica Bank now owns 7,708 shares of the technology company’s stock valued at $1,048,000 after buying an additional 2,233 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Veeva Systems by 15.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 152,977 shares of the technology company’s stock valued at $19,407,000 after buying an additional 20,954 shares during the period. Advisor Group Inc. boosted its stake in shares of Veeva Systems by 63.1% in the 1st quarter. Advisor Group Inc. now owns 31,220 shares of the technology company’s stock valued at $3,959,000 after buying an additional 12,073 shares during the period. Finally, Bremer Bank National Association purchased a new position in shares of Veeva Systems in the 1st quarter valued at about $44,000. Institutional investors own 76.67% of the company’s stock.
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, 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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