Brokerages expect Veeva Systems Inc. (NYSE:VEEV) to post $465.31 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Veeva Systems’ earnings. The highest sales estimate is $468.70 million and the lowest is $464.39 million. Veeva Systems reported sales of $377.52 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.3%. The firm is scheduled to announce its next earnings results on Tuesday, December 7th.
On average, analysts expect that Veeva Systems will report full year sales of $1.83 billion for the current year, with estimates ranging from $1.83 billion to $1.84 billion. For the next year, analysts expect that the firm will report sales of $2.18 billion, with estimates ranging from $2.14 billion to $2.25 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Veeva Systems.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, August 31st. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The firm had revenue of $455.59 million during the quarter, compared to analysts’ expectations of $450.93 million. Veeva Systems had a return on equity of 16.35% and a net margin of 25.51%. The business’s revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS.
VEEV opened at $299.00 on Thursday. The business has a 50 day moving average price of $308.15 and a two-hundred day moving average price of $296.49. The company has a market cap of $45.87 billion, a PE ratio of 114.12, a P/E/G ratio of 6.74 and a beta of 0.73. Veeva Systems has a 52 week low of $235.74 and a 52 week high of $343.96.
In other Veeva Systems news, SVP Jonathan Faddis sold 1,666 shares of the stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $316.46, for a total transaction of $527,222.36. Following the sale, the senior vice president now owns 6,017 shares in the company, valued at approximately $1,904,139.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Michele O’connor sold 3,568 shares of the stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $318.80, for a total value of $1,137,478.40. Following the sale, the chief accounting officer now owns 3,790 shares in the company, valued at approximately $1,208,252. The disclosure for this sale can be found here. Insiders sold a total of 16,695 shares of company stock valued at $5,203,115 over the last ninety days. 13.18% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of VEEV. CIBC Private Wealth Group LLC boosted its holdings in shares of Veeva Systems by 1.4% during the first quarter. CIBC Private Wealth Group LLC now owns 6,365 shares of the technology company’s stock worth $1,663,000 after purchasing an additional 85 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Veeva Systems by 6.6% during the first quarter. Geode Capital Management LLC now owns 1,626,656 shares of the technology company’s stock worth $424,352,000 after purchasing an additional 101,148 shares during the last quarter. Harbour Investments Inc. acquired a new stake in shares of Veeva Systems during the first quarter worth $158,000. Northern Trust Corp boosted its holdings in shares of Veeva Systems by 0.5% during the first quarter. Northern Trust Corp now owns 878,447 shares of the technology company’s stock worth $229,485,000 after purchasing an additional 4,119 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of Veeva Systems by 1.1% during the first quarter. William Blair Investment Management LLC now owns 82,226 shares of the technology company’s stock worth $21,481,000 after purchasing an additional 881 shares during the last quarter. Institutional investors and hedge funds own 77.78% of the company’s stock.
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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