Zacks: Analysts Expect Veeva Systems Inc (VEEV) to Announce $0.38 Earnings Per Share

Equities research analysts predict that Veeva Systems Inc (NYSE:VEEV) will report earnings of $0.38 per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Veeva Systems’ earnings, with the highest EPS estimate coming in at $0.39 and the lowest estimate coming in at $0.38. Veeva Systems reported earnings of $0.25 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 52%. The business is expected to announce its next earnings results after the market closes on Wednesday, November 28th.

According to Zacks, analysts expect that Veeva Systems will report full-year earnings of $1.48 per share for the current year, with EPS estimates ranging from $1.47 to $1.49. For the next financial year, analysts expect that the business will report earnings of $1.73 per share, with EPS estimates ranging from $1.69 to $1.77. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Veeva Systems.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, August 23rd. The technology company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.05. The company had revenue of $209.60 million for the quarter, compared to analyst estimates of $203.50 million. Veeva Systems had a return on equity of 13.58% and a net margin of 21.23%. Veeva Systems’s revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share.

VEEV has been the topic of a number of recent research reports. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $117.00 target price on the stock in a research report on Wednesday, August 29th. ValuEngine raised Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. DA Davidson set a $120.00 target price on Veeva Systems and gave the company a “buy” rating in a research report on Friday, October 5th. Morgan Stanley lifted their target price on Veeva Systems from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 24th. They noted that the move was a valuation call. Finally, William Blair reissued an “outperform” rating on shares of Veeva Systems in a research report on Monday, October 8th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Veeva Systems presently has a consensus rating of “Buy” and an average price target of $99.07.

In other Veeva Systems news, SVP Jonathan Faddis sold 612 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $103.52, for a total value of $63,354.24. Following the completion of the transaction, the senior vice president now directly owns 3,961 shares in the company, valued at $410,042.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alan Mateo sold 981 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $92.07, for a total value of $90,320.67. Following the completion of the transaction, the executive vice president now owns 14,342 shares of the company’s stock, valued at $1,320,467.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,929 shares of company stock valued at $11,537,540. Corporate insiders own 15.97% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. bought a new position in Veeva Systems in the third quarter valued at approximately $134,000. Flagship Harbor Advisors LLC bought a new position in shares of Veeva Systems during the 2nd quarter worth approximately $149,000. Global Trust Asset Management LLC bought a new position in shares of Veeva Systems during the 3rd quarter worth approximately $163,000. Mutual of America Capital Management LLC bought a new position in shares of Veeva Systems during the 2nd quarter worth approximately $169,000. Finally, One Wealth Advisors LLC bought a new position in shares of Veeva Systems during the 3rd quarter worth approximately $173,000. Hedge funds and other institutional investors own 75.16% of the company’s stock.

Veeva Systems stock traded up $2.78 during midday trading on Thursday, reaching $92.43. The stock had a trading volume of 749,680 shares, compared to its average volume of 1,171,768. Veeva Systems has a 1-year low of $52.17 and a 1-year high of $109.05. The firm has a market cap of $12.87 billion, a PE ratio of 100.47, a P/E/G ratio of 4.22 and a beta of 1.64.

About Veeva Systems

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 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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