Zacks: Analysts Anticipate Veeva Systems Inc. (NYSE:VEEV) Will Post Earnings of $0.88 Per Share

Wall Street analysts expect that Veeva Systems Inc. (NYSE:VEEV) will report $0.88 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Veeva Systems’ earnings, with the highest EPS estimate coming in at $0.88 and the lowest estimate coming in at $0.87. Veeva Systems reported earnings of $0.78 per share in the same quarter last year, which would indicate a positive year over year growth rate of 12.8%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, December 1st.

On average, analysts expect that Veeva Systems will report full-year earnings of $3.57 per share for the current fiscal year, with EPS estimates ranging from $3.56 to $3.58. For the next fiscal year, analysts expect that the business will report earnings of $4.10 per share, with EPS estimates ranging from $3.90 to $4.31. Zacks’ EPS averages are an average based on a survey of analysts that follow Veeva Systems.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, August 31st. The technology company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. Veeva Systems had a net margin of 25.51% and a return on equity of 16.35%. The firm had revenue of $455.59 million during the quarter, compared to the consensus estimate of $450.93 million. During the same period last year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis.

VEEV has been the subject of several recent research reports. JMP Securities raised their target price on shares of Veeva Systems from $320.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, September 2nd. SVB Leerink lifted their price target on shares of Veeva Systems from $294.00 to $296.00 and gave the stock a “market perform” rating in a report on Thursday, September 2nd. UBS Group lifted their price target on shares of Veeva Systems from $270.00 to $320.00 and gave the stock a “neutral” rating in a report on Thursday, September 2nd. Needham & Company LLC lifted their price target on shares of Veeva Systems from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, September 2nd. Finally, William Blair restated a “buy” rating on shares of Veeva Systems in a report on Wednesday, October 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $344.11.

In related news, SVP Jonathan Faddis sold 1,666 shares of the stock in a transaction on Thursday, November 18th. The stock was sold at an average price of $316.88, for a total value of $527,922.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Mateo sold 2,347 shares of the firm’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $306.50, for a total value of $719,355.50. Following the sale, the executive vice president now owns 5,476 shares of the company’s stock, valued at $1,678,394. The disclosure for this sale can be found here. Insiders sold 22,375 shares of company stock valued at $6,955,318 over the last 90 days. 13.18% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Veeva Systems by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 12,544,865 shares of the technology company’s stock valued at $3,900,825,000 after buying an additional 52,479 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Veeva Systems by 9.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,341,548 shares of the technology company’s stock valued at $3,526,654,000 after buying an additional 983,136 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Veeva Systems by 9.3% in the 3rd quarter. Artisan Partners Limited Partnership now owns 7,222,654 shares of the technology company’s stock valued at $2,081,352,000 after acquiring an additional 612,776 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Veeva Systems by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,102,097 shares of the technology company’s stock valued at $893,932,000 after acquiring an additional 35,451 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Veeva Systems by 9.5% in the 2nd quarter. State Street Corp now owns 2,992,119 shares of the technology company’s stock valued at $930,399,000 after acquiring an additional 258,882 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

NYSE:VEEV traded up $2.58 during mid-day trading on Thursday, hitting $291.00. 1,054,493 shares of the company’s stock traded hands, compared to its average volume of 775,210. The firm’s 50 day simple moving average is $304.66 and its 200 day simple moving average is $305.82. Veeva Systems has a 1 year low of $235.74 and a 1 year high of $343.96. The company has a market cap of $44.64 billion, a PE ratio of 111.07, a price-to-earnings-growth ratio of 6.96 and a beta of 0.78.

Veeva Systems Company Profile

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

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