Paul J. Sekhri Sells 17,593 Shares of Veeva Systems Inc. (VEEV) Stock
Veeva Systems Inc. (NYSE:VEEV) Director Paul J. Sekhri sold 17,593 shares of the business’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $37.73, for a total value of $663,783.89. Following the completion of the transaction, the director now owns 21,108 shares in the company, valued at approximately $796,404.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 37.91 on Friday. The firm’s 50-day moving average price is $40.20 and its 200 day moving average price is $34.29. The firm has a market cap of $5.16 billion, a PE ratio of 102.46 and a beta of 1.58. Veeva Systems Inc. has a 52 week low of $19.97 and a 52 week high of $42.58.
Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, August 30th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The firm had revenue of $131.30 million for the quarter, compared to the consensus estimate of $126.61 million. Veeva Systems had a net margin of 11.33% and a return on equity of 11.26%. The business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 earnings per share. Equities analysts anticipate that Veeva Systems Inc. will post $0.60 EPS for the current year.
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VEEV has been the topic of several recent analyst reports. Bank of America Corp. initiated coverage on Veeva Systems in a research note on Friday, June 17th. They issued a “neutral” rating and a $40.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Veeva Systems in a research note on Thursday, June 30th. Zacks Investment Research cut Veeva Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Morgan Stanley reiterated a “buy” rating and issued a $44.00 price target on shares of Veeva Systems in a research note on Tuesday, August 16th. Finally, Citigroup Inc. boosted their price target on Veeva Systems from $31.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 23rd. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $41.46.
Institutional investors have recently bought and sold shares of the company. FineMark National Bank & Trust increased its position in Veeva Systems by 12.7% in the second quarter. FineMark National Bank & Trust now owns 3,060 shares of the company’s stock valued at $104,000 after buying an additional 346 shares during the last quarter. Legal & General Group Plc increased its position in Veeva Systems by 6.8% in the second quarter. Legal & General Group Plc now owns 6,800 shares of the company’s stock valued at $232,000 after buying an additional 433 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in Veeva Systems by 4.0% in the second quarter. Public Employees Retirement Association of Colorado now owns 20,681 shares of the company’s stock valued at $706,000 after buying an additional 803 shares during the last quarter. Teacher Retirement System of Texas increased its position in Veeva Systems by 9.6% in the second quarter. Teacher Retirement System of Texas now owns 10,218 shares of the company’s stock valued at $349,000 after buying an additional 898 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in Veeva Systems by 35.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,221 shares of the company’s stock valued at $246,000 after buying an additional 1,898 shares during the last quarter. 70.67% of the stock is currently owned by hedge funds and other institutional investors.
Veeva Systems Company Profile
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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