Veeva Systems Inc (VEEV) Releases Earnings Results, Beats Expectations By $0.06 EPS

Veeva Systems Inc (VEEV) announced its most recent quarterly financial results on Tuesday, Nov-22-2016. VEEV said it had a profit of $0.22 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.16. The company posted revenue of $142.80 million in the period, compared to analysts expectations of $135.80 million. VEEV’s revenue was up 33.6% 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. Veeva Systems Inc was Initiated by Goldman to “Neutral” on Oct 4, 2016. Company shares were Reiterated by Needham on Aug 31, 2016 to “Buy”, Firm has raised the Price Target to $ 43 from a previous price target of $38 .Company shares were Reiterated by Stifel on Aug 31, 2016 to “Buy”, Firm has raised the Price Target to $ 43 from a previous price target of $40 .

Veeva Systems Inc closed down -0.35 points or -0.84% at $41.55 with 13,62,503 shares getting traded on Monday. Post opening the session at $41.81, the shares hit an intraday low of $41.38 and an intraday high of $41.82 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Nov 21, 2016, Ronald E F Codd (director) sold 3,000 shares at $41.00 per share price. According to the SEC, on Nov 16, 2016, Alan Mateo (EVP Global Sales) sold 2,716 shares at $39.90 per share price. On Nov 9, 2016, Matthew J Wallach (President) sold 84,000 shares at $38.76 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.

Veeva Systems Inc

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