Insider Selling: Veeva Systems major shareholder Sells 55,000 Shares of Stock (VEEV)
Veeva Systems (NASDAQ:VEEV) major shareholder Young A. Sohn unloaded 55,000 shares of Veeva Systems stock on the open market in a transaction dated Monday, August 4th. The stock was sold at an average price of $22.78, for a total value of $1,252,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Veeva Systems (NASDAQ:VEEV) traded up 0.47% during mid-day trading on Tuesday, hitting $23.34. 611,681 shares of the company’s stock traded hands. 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 $24.31 and its 200-day moving average is $25.91. The company has a market cap of $2.983 billion and a price-to-earnings ratio of 139.10.
Veeva Systems (NASDAQ:VEEV) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.07 earnings per share for the quarter, beating the analysts’ 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. Veeva Systems’s revenue was up 55.8% compared to the same quarter last year. Analysts expect that Veeva Systems will post $0.26 EPS for the current fiscal year.
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 issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $29.40.
Veeva Systems Inc (NASDAQ:VEEV) which provides industry-specific, cloud-based software solutions for the life sciences industry.
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