Veeva Systems Inc. (VEEV) Director Sells $188,970.00 in Stock
Veeva Systems Inc. (NYSE:VEEV) Director Ronald E. F. Codd sold 3,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $62.99, for a total value of $188,970.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Veeva Systems Inc. (VEEV) traded up 1.54% during trading on Wednesday, reaching $63.77. The company’s stock had a trading volume of 1,005,938 shares. The company’s 50 day moving average price is $62.78 and its 200 day moving average price is $55.08. Veeva Systems Inc. has a 52 week low of $36.55 and a 52 week high of $68.07. The company has a market cap of $8.91 billion, a P/E ratio of 102.69 and a beta of 1.63.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, May 25th. The technology company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.04. The company had revenue of $157.90 million during the quarter, compared to analyst estimates of $151.82 million. Veeva Systems had a return on equity of 12.28% and a net margin of 15.86%. Veeva Systems’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. On average, equities analysts anticipate that Veeva Systems Inc. will post $0.83 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its stake in shares of Veeva Systems by 113.2% in the first quarter. Morgan Stanley now owns 8,439,930 shares of the technology company’s stock valued at $432,800,000 after buying an additional 4,482,021 shares during the period. BlackRock Inc. boosted its stake in shares of Veeva Systems by 24,931.6% in the first quarter. BlackRock Inc. now owns 4,011,310 shares of the technology company’s stock valued at $205,701,000 after buying an additional 3,995,285 shares during the period. FMR LLC boosted its stake in shares of Veeva Systems by 398.1% in the first quarter. FMR LLC now owns 2,290,030 shares of the technology company’s stock valued at $117,433,000 after buying an additional 1,830,270 shares during the period. Vanguard Group Inc. boosted its stake in shares of Veeva Systems by 16.9% in the first quarter. Vanguard Group Inc. now owns 8,835,128 shares of the technology company’s stock valued at $453,066,000 after buying an additional 1,276,901 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Veeva Systems by 22.8% in the first quarter. Wellington Management Group LLP now owns 4,858,775 shares of the technology company’s stock valued at $249,158,000 after buying an additional 902,330 shares during the period. 78.58% of the stock is owned by hedge funds and other institutional investors.
VEEV has been the subject of several recent research reports. Zacks Investment Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 27th. Canaccord Genuity reiterated a “buy” rating and set a $70.00 price objective (up from $48.00) on shares of Veeva Systems in a report on Friday, May 26th. Stifel Nicolaus reiterated a “buy” rating and set a $67.00 price objective on shares of Veeva Systems in a report on Monday, July 10th. Citigroup Inc. increased their price objective on Veeva Systems from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, May 30th. Finally, Pacific Crest reiterated an “overweight” rating and set a $70.00 price objective (up from $61.00) on shares of Veeva Systems in a report on Sunday, May 28th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $62.00.
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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