Veeva Systems (NYSE:VEEV) Announces Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Veeva Systems (NYSE:VEEV) posted its quarterly earnings results on Wednesday. The technology company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.23, Briefing.com reports. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The firm had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. During the same quarter in the previous year, the company earned $1.50 earnings per share. The business’s revenue was up 16.7% compared to the same quarter last year.

Veeva Systems Trading Up 18.9%

Shares of NYSE VEEV opened at $278.85 on Friday. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $285.70. The company has a 50-day moving average of $229.69 and a two-hundred day moving average of $227.56. The company has a market cap of $45.37 billion, a PE ratio of 68.85, a P/E/G ratio of 1.89 and a beta of 0.96.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of analyst reports. Stephens reaffirmed an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Raymond James lifted their price objective on Veeva Systems from $285.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group upped their price objective on Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a research note on Thursday. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Robert W. Baird boosted their price target on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $268.12.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares of the company’s stock, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the sale, the director now directly owns 5,500 shares of the company’s stock, valued at $1,192,565. This represents a 41.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,869 shares of company stock worth $1,284,917. Corporate insiders own 10.30% of the company’s stock.

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 analytics 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.