Shares of Veeva Systems Inc. (NYSE:VEEV – Get Free Report) gapped down prior to trading on Thursday after Barclays lowered their price target on the stock from $220.00 to $213.00. The stock had previously closed at $178.39, but opened at $173.33. Barclays currently has an overweight rating on the stock. Veeva Systems shares last traded at $171.31, with a volume of 421,841 shares trading hands.
A number of other equities research analysts also recently issued reports on the stock. UBS Group increased their price objective on shares of Veeva Systems from $175.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, August 31st. Citigroup increased their price objective on shares of Veeva Systems from $210.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of Veeva Systems in a research note on Friday, November 10th. JPMorgan Chase & Co. reduced their price objective on shares of Veeva Systems from $188.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 29th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $242.00 price objective on shares of Veeva Systems in a research note on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.45.
Insider Activity at Veeva Systems
In related news, Director Matthew J. Wallach sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $209.07, for a total value of $1,045,350.00. Following the completion of the transaction, the director now owns 28,735 shares in the company, valued at approximately $6,007,626.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Veeva Systems news, EVP Alan Mateo sold 6,280 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $193.72, for a total transaction of $1,216,561.60. Following the completion of the transaction, the executive vice president now owns 19,769 shares in the company, valued at approximately $3,829,650.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Matthew J. Wallach sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $209.07, for a total transaction of $1,045,350.00. Following the transaction, the director now owns 28,735 shares of the company’s stock, valued at approximately $6,007,626.45. The disclosure for this sale can be found here. Insiders sold a total of 43,530 shares of company stock worth $8,613,580 in the last quarter. 10.98% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in Veeva Systems by 8.2% during the 2nd quarter. Arizona State Retirement System now owns 41,520 shares of the technology company’s stock worth $8,210,000 after purchasing an additional 3,154 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in Veeva Systems by 26.8% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 574,955 shares of the technology company’s stock worth $113,686,000 after purchasing an additional 121,522 shares during the last quarter. BOKF NA grew its position in shares of Veeva Systems by 20.9% during the 1st quarter. BOKF NA now owns 14,851 shares of the technology company’s stock worth $2,729,000 after buying an additional 2,564 shares during the period. Capital World Investors acquired a new stake in shares of Veeva Systems during the 2nd quarter worth approximately $151,056,000. Finally, William Blair Investment Management LLC grew its position in shares of Veeva Systems by 4.6% during the 2nd quarter. William Blair Investment Management LLC now owns 753,373 shares of the technology company’s stock worth $148,964,000 after buying an additional 33,442 shares during the period. Institutional investors own 80.07% of the company’s stock.
Veeva Systems Trading Down 3.5 %
The company has a market cap of $27.66 billion, a price-to-earnings ratio of 53.74, a P/E/G ratio of 2.66 and a beta of 0.79. The firm’s 50-day moving average price is $190.46 and its 200 day moving average price is $194.81.
Veeva Systems (NYSE:VEEV – Get Free Report) last announced its quarterly earnings data on Wednesday, December 6th. The technology company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.29 by $0.05. The company had revenue of $616.51 million during the quarter, compared to the consensus estimate of $615.98 million. Veeva Systems had a net margin of 24.20% and a return on equity of 10.89%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. Analysts forecast that Veeva Systems Inc. will post 2.73 earnings per share for the current fiscal year.
Veeva Systems Company Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.