Veeva Systems Inc (VEEV) reported quarterly earnings results on Thursday, May-26-2016. The company said it had a profit of $0.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.11. The company posted revenue of $119.80 million in the period, compared to analysts expectations of $115.52 million. The company’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS.
Many Wall Street Analysts have commented on Veeva Systems Inc. Shares were Reiterated by Canaccord Genuity on Mar 2, 2016 to “Buy” and Lowered the Price Target to $ 32 from a previous price target of $35 .
Veeva Systems Inc opened for trading at $29.81 and hit $29.9 on the upside on Wednesday, eventually ending the session at $29.89, with a gain of 0.98% or 0.29 points. The heightened volatility saw the trading volume jump to 13,21,901 shares. Company has a market cap of $4,010 M.
In a different news, on May 9, 2016, Gordon Ritter (director) sold 5,600 shares at $26.84 per share price. According to the SEC, on May 6, 2016, Matthew J Wallach (President) sold 84,000 shares at $26.82 per share price. On May 6, 2016, Jonathan Faddis (SVP, Gen. Counsel, Secretary) sold 500 shares at $27.26 per share price, according to the Form-4 filing with the securities and exchange commission.
Veeva Systems Inc. (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company’s industry cloud for life sciences consists of the solution sets: Veeva CRM its core customer relationship management solution and related solutions; Veeva Vault its regulated content management and collaboration solutions; Veeva Network its customer master data management solution and Veeva OpenKey its data and related services offerings. It provides updates to its software solutions three times per year. Updates are included in its subscription and are not subject to an additional fee. Upgrades are implemented by Veeva in its cloud computing environment such that when a new update is put into production the prior version is replaced. Veeva OpenKey customer data is available in Australia China France Italy the United Kingdom and the United States.