Veeva Systems Inc. provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety. It also provides professional and support services in the areas of implementation and deployment planning and project management; requirements analysis, solution design, and configuration; systems environment management and deployment services; services focused on advancing or transforming business and operating processes related to Veeva solutions; technical consulting services related to data migration and systems integrations; training on its solutions; and ongoing managed services that include outsourced systems administration. The company was formerly known as Verticals onDemand, Inc. and changed its name to Veeva Systems Inc. in April 2009. Veeva Systems Inc. was incorporated in 2007 and is headquartered in Pleasanton, California.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. The Goldman Sachs Group initiated coverage on Veeva Systems in a research note on Thursday, June 23rd. They set a "buy" rating and a $253.00 price target on the stock. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a research report on Friday, May 13th. Raymond James decreased their target price on Veeva Systems from $260.00 to $205.00 in a research report on Thursday, June 2nd. Stifel Nicolaus boosted their price target on Veeva Systems from $220.00 to $240.00 and gave the stock a "buy" rating in a research note on Wednesday, June 29th. Finally, Citigroup upped their price objective on Veeva Systems to $232.00 in a research note on Friday, June 3rd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $247.00.
Veeva Systems Trading Up 0.2 %
VEEV Stock traded up $0.54 during trading on Monday, reaching $225.91. 6,148 shares of the stock were exchanged, compared to its average volume of 1,069,532. Veeva Systems has a twelve month low of $152.04 and a twelve month high of $336.52. The company has a market capitalization of $34.98 billion, a P/E ratio of 88.73, a price-to-earnings-growth ratio of 4.78 and a beta of 0.73. The stock has a 50 day simple moving average of $205.02 and a 200-day simple moving average of $199.27.
Veeva Systems (NYSE:VEEV - Get Rating) last released its earnings results on Wednesday, June 1st. The technology company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.03. Veeva Systems had a return on equity of 14.60% and a net margin of 21.43%. The business had revenue of $505.10 million for the quarter, compared to the consensus estimate of $495.88 million. During the same period last year, the business earned $0.67 earnings per share. The firm's revenue for the quarter was up 16.5% compared to the same quarter last year. Equities analysts predict that Veeva Systems will post 2.78 EPS for the current year.
Insiders Place Their Bets
In other Veeva Systems news, CAO Michele O'connor sold 371 shares of the firm's stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $189.37, for a total transaction of $70,256.27. Following the completion of the transaction, the chief accounting officer now owns 15,833 shares in the company, valued at $2,998,295.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Timothy S. Cabral sold 5,000 shares of the business's stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $200.03, for a total value of $1,000,150.00. Following the completion of the transaction, the director now owns 113,114 shares of the company's stock, valued at approximately $22,626,193.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michele O'connor sold 371 shares of the business's stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $189.37, for a total transaction of $70,256.27. Following the completion of the transaction, the chief accounting officer now directly owns 15,833 shares of the company's stock, valued at approximately $2,998,295.21. The disclosure for this sale can be found here. Insiders sold a total of 15,371 shares of company stock worth $2,963,506 over the last quarter. Company insiders own 13.23% of the company's stock.
