Veeva Systems (NYSE:VEEV) Posts Earnings Results, Beats Expectations By $0.23 EPS

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

Veeva Systems Stock Performance

NYSE VEEV opened at $278.85 on Friday. Veeva Systems has a one year low of $170.25 and a one year high of $285.70. The company has a market cap of $45.37 billion, a P/E ratio of 68.85, a P/E/G ratio of 1.89 and a beta of 0.96. The business has a fifty day moving average price of $229.69 and a 200 day moving average price of $227.56.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,200 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction 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 $5,720,692.33. This represents a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock worth $1,284,917 in the last quarter. Company insiders own 10.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. KeyCorp decreased their price objective on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. 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. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Stifel Nicolaus lifted their price objective on Veeva Systems from $272.00 to $295.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays lifted their price objective on Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $268.12.

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.