Veeva Systems (NYSE:VEEV) Downgraded to Sell at ValuEngine

ValuEngine lowered shares of Veeva Systems (NYSE:VEEV) from a hold rating to a sell rating in a research note released on Wednesday morning, ValuEngine reports.

Several other equities analysts also recently weighed in on the stock. Evercore ISI reaffirmed a hold rating and set a $170.00 price target on shares of Veeva Systems in a report on Thursday, November 28th. Guggenheim lifted their price target on shares of Veeva Systems from $154.00 to $180.00 and gave the company a buy rating in a report on Wednesday, August 28th. JMP Securities lifted their price target on shares of Veeva Systems from $153.00 to $172.00 and gave the company a market outperform rating in a report on Wednesday, August 28th. DA Davidson lifted their price target on shares of Veeva Systems from $165.00 to $200.00 and gave the company a buy rating in a report on Wednesday, August 28th. Finally, Barclays lifted their price target on shares of Veeva Systems from $165.00 to $176.00 and gave the company an equal weight rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $172.61.

Shares of NYSE:VEEV opened at $146.10 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.40 and a quick ratio of 5.40. Veeva Systems has a 1-year low of $79.26 and a 1-year high of $176.90. The company has a market capitalization of $21.05 billion, a P/E ratio of 91.77, a P/E/G ratio of 3.96 and a beta of 1.24. The firm’s 50 day simple moving average is $147.51 and its two-hundred day simple moving average is $155.82.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Tuesday, November 26th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.19. Veeva Systems had a net margin of 29.86% and a return on equity of 17.56%. The business had revenue of $280.90 million for the quarter, compared to the consensus estimate of $274.81 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, sell-side analysts anticipate that Veeva Systems will post 1.64 earnings per share for the current fiscal year.

In other news, CMO Eleni Nitsa Zuppas sold 5,000 shares of Veeva Systems stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $144.99, for a total transaction of $724,950.00. Following the sale, the chief marketing officer now owns 15,090 shares in the company, valued at $2,187,899.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alan Mateo sold 496 shares of Veeva Systems stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $146.15, for a total transaction of $72,490.40. Following the sale, the executive vice president now owns 16,566 shares in the company, valued at approximately $2,421,120.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,670 shares of company stock worth $6,275,963. Company insiders own 14.38% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in VEEV. Endurance Wealth Management Inc. bought a new stake in shares of Veeva Systems during the third quarter valued at approximately $27,000. Venturi Wealth Management LLC bought a new stake in Veeva Systems in the third quarter worth $35,000. Virtus ETF Advisers LLC bought a new stake in Veeva Systems in the second quarter worth $41,000. Tower Research Capital LLC TRC bought a new stake in Veeva Systems in the third quarter worth $43,000. Finally, Commonwealth Bank of Australia increased its position in Veeva Systems by 71.2% in the second quarter. Commonwealth Bank of Australia now owns 291 shares of the technology company’s stock worth $45,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 77.75% 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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Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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