Brokerages Expect Veeva Systems Inc (VEEV) to Post $0.34 EPS


Equities research analysts predict that Veeva Systems Inc (NYSE:VEEV) will report $0.34 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Veeva Systems’ earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.35. Veeva Systems posted earnings per share of $0.23 during the same quarter last year, which indicates a positive year over year growth rate of 47.8%. The business is expected to issue its next earnings results on Thursday, August 23rd.


On average, analysts expect that Veeva Systems will report full year earnings of $1.37 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.39. For the next financial year, analysts anticipate that the company will post earnings of $1.59 per share, with EPS estimates ranging from $1.53 to $1.67. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Veeva Systems.

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Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, May 24th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Veeva Systems had a return on equity of 12.47% and a net margin of 20.78%. The company had revenue of $195.55 million for the quarter, compared to analyst estimates of $188.92 million. During the same period in the prior year, the company posted $0.24 EPS. Veeva Systems’s quarterly revenue was up 22.4% on a year-over-year basis.


A number of brokerages have issued reports on VEEV. Deutsche Bank upped their target price on Veeva Systems from $55.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, May 25th. Zacks Investment Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Morgan Stanley upped their target price on Veeva Systems from $78.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, June 27th. ValuEngine raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, JMP Securities upped their price target on Veeva Systems from $74.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, March 23rd. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $79.34.


Shares of Veeva Systems traded down $0.75, reaching $79.45, during trading on Tuesday, according to MarketBeat. The company’s stock had a trading volume of 531,603 shares, compared to its average volume of 1,128,273. Veeva Systems has a twelve month low of $52.17 and a twelve month high of $85.00. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 87.30, a PEG ratio of 4.41 and a beta of 1.42.

In related news, CFO Timothy S. Cabral sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $81.75, for a total transaction of $4,087,500.00. Following the sale, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $2,452,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alan Mateo sold 603 shares of the company’s stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $72.59, for a total value of $43,771.77. Following the sale, the executive vice president now directly owns 11,221 shares in the company, valued at $814,532.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,368 shares of company stock worth $11,210,954. Corporate insiders own 15.97% of the company’s stock.


A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd grew its stake in Veeva Systems by 5.5% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 12,201 shares of the technology company’s stock worth $891,000 after buying an additional 634 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in Veeva Systems by 4.0% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 18,011 shares of the technology company’s stock worth $1,315,000 after buying an additional 700 shares during the last quarter. Aperio Group LLC grew its stake in Veeva Systems by 5.5% during the 1st quarter. Aperio Group LLC now owns 14,182 shares of the technology company’s stock worth $1,036,000 after buying an additional 733 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its stake in Veeva Systems by 3.0% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 26,100 shares of the technology company’s stock worth $1,906,000 after buying an additional 750 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Veeva Systems by 26.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,975 shares of the technology company’s stock worth $290,000 after buying an additional 825 shares during the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.


About Veeva Systems

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, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.

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

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