Somewhat Positive Press Coverage Somewhat Unlikely to Impact Veeva Systems (NYSE:VEEV) Share Price
Media coverage about Veeva Systems (NYSE:VEEV) has trended somewhat positive on Friday, Accern reports. The research firm rates the sentiment of news coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Veeva Systems earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned media headlines about the technology company an impact score of 45.3820461721721 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the news stories that may have impacted Accern’s scoring:
- Handelsbanken Fonder AB Holds Position in Microsoft Corporation (MSFT) (vothemes.com)
- A Few Clear Signs For Veeva Systems Inc. (VEEV), PTC Therapeutics, Inc. (PTCT) – AllStockNews (allstocknews.com)
- Artisan Partners Limited Partnership Sold A Little More Veeva Systems Inc. Class A (VEEV) Stock In The Last Quarter – Highlight Press (highlightpress.com)
- Artisan Partners Limited Partnership Marginally Decreases Its Holdings in Veeva Systems Inc. Class A (VEEV) Stock – Modern Readers (modernreaders.com)
- Veeva Systems Inc. (VEEV) Technical Indicators Remain Partialy Favorable – StockNewsGazette (stocknewsgazette.com)
Shares of Veeva Systems (NYSE VEEV) traded up 3.24% during mid-day trading on Friday, reaching $61.85. The company’s stock had a trading volume of 945,523 shares. Veeva Systems has a 1-year low of $36.55 and a 1-year high of $68.07. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 99.60 and a beta of 1.63. The firm’s 50 day moving average price is $62.83 and its 200-day moving average price is $54.48.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, May 25th. The technology company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.04. The company had revenue of $157.90 million during the quarter, compared to analyst estimates of $151.82 million. Veeva Systems had a net margin of 15.86% and a return on equity of 12.28%. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 EPS. On average, analysts predict that Veeva Systems will post $0.83 EPS for the current year.
Several research analysts have recently weighed in on VEEV shares. Stifel Nicolaus boosted their target price on Veeva Systems from $60.00 to $67.00 and gave the stock a “buy” rating in a report on Saturday, May 27th. Canaccord Genuity restated a “buy” rating and set a $70.00 target price (up from $48.00) on shares of Veeva Systems in a report on Friday, May 26th. Bank of America Corporation upgraded Veeva Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $70.00 in a report on Friday, May 26th. Needham & Company LLC restated a “buy” rating and set a $75.00 target price (up from $48.00) on shares of Veeva Systems in a report on Sunday, May 28th. Finally, Zacks Investment Research upgraded Veeva Systems from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, May 31st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $62.00.
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In other Veeva Systems news, Director Gordon Ritter sold 5,100 shares of Veeva Systems stock in a transaction on Monday, May 15th. The shares were sold at an average price of $57.25, for a total value of $291,975.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Timothy S. Cabral sold 40,000 shares of Veeva Systems stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $65.91, for a total transaction of $2,636,400.00. Following the completion of the transaction, the chief financial officer now owns 30,000 shares in the company, valued at approximately $1,977,300. The disclosure for this sale can be found here. In the last quarter, insiders sold 292,258 shares of company stock worth $18,468,436. 19.17% of the stock is owned by company insiders.
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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