$180.22 Million in Sales Expected for Veeva Systems Inc (VEEV) This Quarter
Equities research analysts expect that Veeva Systems Inc (NYSE:VEEV) will report sales of $180.22 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Veeva Systems’ earnings, with the lowest sales estimate coming in at $179.49 million and the highest estimate coming in at $182.67 million. Veeva Systems reported sales of $150.15 million in the same quarter last year, which would suggest a positive year over year growth rate of 20%. The company is expected to report its next quarterly earnings report after the market closes on Tuesday, February 27th.
On average, analysts expect that Veeva Systems will report full-year sales of $180.22 million for the current fiscal year, with estimates ranging from $680.00 million to $683.32 million. For the next year, analysts expect that the business will post sales of $807.50 million per share, with estimates ranging from $803.76 million to $820.49 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Veeva Systems.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.09. The company had revenue of $176.10 million for the quarter, compared to analysts’ expectations of $171.99 million. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. Veeva Systems’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS.
In related news, CFO Timothy S. Cabral sold 50,000 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $55.74, for a total value of $2,787,000.00. Following the sale, the chief financial officer now directly owns 50,000 shares in the company, valued at approximately $2,787,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Frederic Lequient sold 2,875 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $57.32, for a total transaction of $164,795.00. Following the completion of the sale, the senior vice president now owns 3,399 shares in the company, valued at $194,830.68. The disclosure for this sale can be found here. Insiders sold a total of 166,417 shares of company stock worth $9,502,103 over the last quarter. Insiders own 19.17% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in shares of Veeva Systems by 605.4% in the 3rd quarter. IFP Advisors Inc now owns 13,347 shares of the technology company’s stock worth $753,000 after buying an additional 11,455 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Veeva Systems by 255.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 156,579 shares of the technology company’s stock worth $8,833,000 after buying an additional 112,539 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Veeva Systems by 2.5% in the 2nd quarter. California State Teachers Retirement System now owns 195,489 shares of the technology company’s stock worth $11,985,000 after buying an additional 4,770 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Veeva Systems by 133.5% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 31,420 shares of the technology company’s stock worth $1,772,000 after buying an additional 17,962 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new stake in shares of Veeva Systems in the 3rd quarter worth about $931,000. Institutional investors and hedge funds own 69.55% of the company’s stock.
Shares of Veeva Systems (NYSE VEEV) traded up $1.71 during midday trading on Friday, hitting $61.55. 598,928 shares of the company’s stock traded hands, compared to its average volume of 1,020,000. The stock has a market cap of $8,700.00, a price-to-earnings ratio of 67.64, a P/E/G ratio of 6.23 and a beta of 1.66. Veeva Systems has a 52 week low of $41.30 and a 52 week high of $68.07.
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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