Insider Selling: Mark Armenante Sells 117,651 Shares of Veeva Systems Stock (VEEV)
Veeva Systems (NASDAQ:VEEV) Director Mark Armenante unloaded 117,651 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $22.21, for a total value of $2,613,028.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
VEEV has been the subject of a number of recent research reports. Analysts at Deutsche Bank cut their price target on shares of Veeva Systems from $34.00 to $30.00 in a research note on Friday, May 30th. They now have a “buy” rating on the stock. Separately, analysts at Pacific Crest cut their price target on shares of Veeva Systems from $44.00 to $30.00 in a research note on Friday, May 30th. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley reiterated a “buy” rating on shares of Veeva Systems in a research note on Friday, May 30th. They now have a $30.00 price target on the stock, down previously from $34.00. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $29.40.
Veeva Systems (NASDAQ:VEEV) traded up 1.55% during mid-day trading on Wednesday, hitting $24.90. 1,494,822 shares of the company’s stock traded hands. Veeva Systems has a 52 week low of $17.11 and a 52 week high of $49.00. The stock’s 50-day moving average is $20.40 and its 200-day moving average is $28.41. The company has a market cap of $3.182 billion and a P/E ratio of 146.83.
Veeva Systems (NASDAQ:VEEV) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.02. The company had revenue of $66.70 million for the quarter, compared to the consensus estimate of $63.40 million. The company’s quarterly revenue was up 55.8% on a year-over-year basis. On average, analysts predict that Veeva Systems will post $0.27 earnings per share for the current fiscal year.
Veeva Systems Inc (NASDAQ:VEEV) which provides industry-specific, cloud-based software solutions for the life sciences industry.
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