Wall Street analysts expect that Veeva Systems Inc. (NYSE:VEEV) will announce $464.92 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Veeva Systems’ earnings, with estimates ranging from $464.39 million to $466.00 million. Veeva Systems reported sales of $377.52 million during the same quarter last year, which would suggest a positive year over year growth rate of 23.2%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, December 7th.
According to Zacks, analysts expect that Veeva Systems will report full year sales of $1.83 billion for the current financial year, with estimates ranging from $1.83 billion to $1.84 billion. For the next year, analysts anticipate that the company will report sales of $2.17 billion, with estimates ranging from $2.14 billion to $2.22 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Veeva Systems.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, August 31st. The technology company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The company had revenue of $455.59 million during the quarter, compared to analyst estimates of $450.93 million. Veeva Systems had a net margin of 25.51% and a return on equity of 16.35%. Veeva Systems’s revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share.
NYSE:VEEV opened at $297.45 on Thursday. Veeva Systems has a 12-month low of $235.74 and a 12-month high of $343.96. The firm has a market cap of $45.63 billion, a PE ratio of 113.53, a price-to-earnings-growth ratio of 6.74 and a beta of 0.73. The stock has a fifty day moving average price of $320.08 and a 200 day moving average price of $293.17.
In related news, Director Matthew J. Wallach sold 5,000 shares of Veeva Systems stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $312.52, for a total transaction of $1,562,600.00. Following the completion of the sale, the director now owns 1,742 shares of the company’s stock, valued at $544,409.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Alan Mateo sold 2,347 shares of Veeva Systems stock in a transaction dated Friday, July 9th. The shares were sold at an average price of $319.91, for a total value of $750,828.77. Following the sale, the executive vice president now owns 5,476 shares of the company’s stock, valued at $1,751,827.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,595 shares of company stock worth $6,817,137. Corporate insiders own 13.18% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of VEEV. MV Capital Management Inc. acquired a new stake in Veeva Systems in the 2nd quarter valued at $31,000. Clearstead Advisors LLC bought a new stake in Veeva Systems during the 1st quarter worth approximately $28,000. Newbridge Financial Services Group Inc. boosted its stake in Veeva Systems by 2,514.3% in the second quarter. Newbridge Financial Services Group Inc. now owns 183 shares of the technology company’s stock worth $57,000 after purchasing an additional 176 shares in the last quarter. Huntington National Bank grew its holdings in Veeva Systems by 22.7% during the 2nd quarter. Huntington National Bank now owns 184 shares of the technology company’s stock worth $57,000 after acquiring an additional 34 shares during the last quarter. Finally, Lloyd Advisory Services LLC. raised its stake in shares of Veeva Systems by 47.3% in the second quarter. Lloyd Advisory Services LLC. now owns 221 shares of the technology company’s stock worth $69,000 after acquiring an additional 71 shares during the last quarter. 77.78% of the stock is currently owned by institutional investors.
About Veeva Systems
Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.
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