Insider Selling: Mark Armenante Unloads 60,000 Shares of Veeva Systems Stock (VEEV)
Veeva Systems (NASDAQ:VEEV) Director Mark Armenante unloaded 60,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $25.63, for a total value of $1,537,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. 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. Veeva Systems presently has a consensus rating of “Buy” and an average target price of $29.40.
Shares of Veeva Systems (NASDAQ:VEEV) traded down 1.07% during mid-day trading on Thursday, hitting $24.96. The stock had a trading volume of 728,202 shares. Veeva Systems has a one year low of $17.11 and a one year high of $49.00. The stock’s 50-day moving average is $22.11 and its 200-day moving average is $27.37. The company has a market cap of $3.190 billion and a price-to-earnings ratio of 151.08.
Veeva Systems (NASDAQ:VEEV) last released its 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. Analysts expect that Veeva Systems will post $0.26 EPS 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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