Veeva Systems Inc (VEEV) Expected to Post Quarterly Sales of $189.17 Million

Wall Street analysts predict that Veeva Systems Inc (NYSE:VEEV) will post sales of $189.17 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Veeva Systems’ earnings, with the lowest sales estimate coming in at $188.37 million and the highest estimate coming in at $192.12 million. Veeva Systems reported sales of $157.92 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.8%. The firm is scheduled to report its next earnings results on Thursday, May 24th.

According to Zacks, analysts expect that Veeva Systems will report full-year sales of $189.17 million for the current financial year, with estimates ranging from $817.12 million to $824.15 million. For the next year, analysts expect that the firm will post sales of $961.06 million per share, with estimates ranging from $941.45 million to $971.20 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Veeva Systems.

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Several equities analysts have recently issued reports on VEEV shares. Morgan Stanley raised Veeva Systems from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 30th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a report on Wednesday, December 6th. William Blair reissued an “outperform” rating on shares of Veeva Systems in a report on Wednesday, February 21st. Vetr raised Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price objective for the company in a report on Thursday, February 8th. Finally, Zacks Investment Research cut Veeva Systems from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $72.23.

In other Veeva Systems news, Director Paul J. Sekhri sold 1,108 shares of the business’s stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $75.46, for a total transaction of $83,609.68. Following the completion of the sale, the director now directly owns 13,046 shares in the company, valued at approximately $984,451.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Frederic Lequient sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.00, for a total value of $930,000.00. Following the sale, the senior vice president now owns 15,000 shares of the company’s stock, valued at $930,000. The disclosure for this sale can be found here. Insiders sold a total of 210,831 shares of company stock valued at $14,947,742 in the last ninety days. 19.17% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Cerebellum GP LLC purchased a new stake in Veeva Systems during the 4th quarter worth approximately $129,000. American International Group Inc. purchased a new stake in Veeva Systems during the 4th quarter worth approximately $142,000. Northwestern Mutual Wealth Management Co. increased its stake in Veeva Systems by 154.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,176 shares of the technology company’s stock worth $176,000 after buying an additional 1,927 shares in the last quarter. Van Hulzen Asset Management LLC purchased a new stake in Veeva Systems during the 3rd quarter worth approximately $204,000. Finally, HL Financial Services LLC purchased a new stake in Veeva Systems during the 4th quarter worth approximately $210,000. Institutional investors own 73.09% of the company’s stock.

VEEV stock opened at $74.30 on Friday. The stock has a market capitalization of $10,784.47, a PE ratio of 79.89, a PEG ratio of 4.59 and a beta of 1.46. Veeva Systems has a fifty-two week low of $48.56 and a fifty-two week high of $78.28.

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About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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