Veeva Systems Inc (VEEV) Forecasted to Earn FY2019 Earnings of $1.21 Per Share

Veeva Systems Inc (NYSE:VEEV) – Analysts at Leerink Swann issued their FY2019 earnings per share (EPS) estimates for shares of Veeva Systems in a note issued to investors on Tuesday, December 4th. Leerink Swann analyst D. Larsen expects that the technology company will post earnings of $1.21 per share for the year. Leerink Swann has a “Outperform” rating and a $120.00 price objective on the stock. Leerink Swann also issued estimates for Veeva Systems’ Q4 2019 earnings at $0.32 EPS, FY2020 earnings at $1.41 EPS and FY2021 earnings at $1.76 EPS.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, November 28th. The technology company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Veeva Systems had a net margin of 23.61% and a return on equity of 16.20%. The business had revenue of $224.70 million for the quarter, compared to analyst estimates of $216.04 million. During the same period last year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was up 26.9% on a year-over-year basis.

A number of other equities research analysts have also commented on VEEV. Morgan Stanley raised their price objective on shares of Veeva Systems from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, August 16th. KeyCorp restated a “buy” rating on shares of Veeva Systems in a report on Thursday, August 23rd. JPMorgan Chase & Co. raised their price objective on shares of Veeva Systems from $81.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, August 24th. JMP Securities raised their price objective on shares of Veeva Systems from $80.00 to $95.00 and gave the stock a “market perform” rating in a report on Friday, August 24th. They noted that the move was a valuation call. Finally, Stifel Nicolaus raised their price objective on shares of Veeva Systems from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $102.94.

Shares of NYSE:VEEV opened at $92.34 on Thursday. Veeva Systems has a 12 month low of $52.17 and a 12 month high of $109.05. The firm has a market cap of $13.34 billion, a P/E ratio of 100.38, a P/E/G ratio of 4.07 and a beta of 1.65.

In other news, insider Eleni Nitsa Zuppas sold 7,200 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $103.30, for a total transaction of $743,760.00. Following the transaction, the insider now directly owns 12,398 shares in the company, valued at approximately $1,280,713.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alan Mateo sold 981 shares of the business’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $92.07, for a total transaction of $90,320.67. Following the transaction, the executive vice president now owns 14,342 shares in the company, valued at $1,320,467.94. The disclosure for this sale can be found here. Insiders sold a total of 79,672 shares of company stock worth $7,896,968 over the last quarter. Company insiders own 15.97% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new position in shares of Veeva Systems during the 3rd quarter worth about $479,000. Reynders McVeigh Capital Management LLC increased its stake in shares of Veeva Systems by 22.2% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 31,690 shares of the technology company’s stock worth $3,450,000 after purchasing an additional 5,760 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Veeva Systems by 3.9% during the 3rd quarter. Legal & General Group Plc now owns 146,080 shares of the technology company’s stock worth $15,904,000 after purchasing an additional 5,420 shares during the last quarter. Paradigm Asset Management Co. LLC acquired a new position in shares of Veeva Systems during the 3rd quarter worth about $125,000. Finally, Griffin Asset Management Inc. acquired a new position in shares of Veeva Systems during the 3rd quarter worth about $294,000. Institutional investors own 76.66% 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 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.

Featured Story: Understanding each part of a balance sheet

Earnings History and Estimates for Veeva Systems (NYSE:VEEV)

Receive News & Ratings for Veeva Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply