Veeva Systems Inc. (VEEV) CFO Sells $2,352,800.00 in Stock
Veeva Systems Inc. (NYSE:VEEV) CFO Timothy S. Cabral sold 40,000 shares of Veeva Systems stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $58.82, for a total transaction of $2,352,800.00. Following the completion of the sale, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at $1,764,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Veeva Systems Inc. (VEEV) traded down 0.65% during trading on Thursday, hitting $57.86. 1,482,479 shares of the company’s stock were exchanged. Veeva Systems Inc. has a 1-year low of $36.55 and a 1-year high of $68.07. The firm has a market capitalization of $8.10 billion, a PE ratio of 73.99 and a beta of 1.65. The stock’s 50 day moving average is $62.18 and its 200 day moving average is $56.97.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The firm had revenue of $166.59 million for the quarter, compared to analyst estimates of $164.26 million. Veeva Systems had a net margin of 18.98% and a return on equity of 13.31%. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. On average, equities research analysts forecast that Veeva Systems Inc. will post $0.87 earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the business. ETF Managers Group LLC acquired a new position in shares of Veeva Systems during the 2nd quarter worth $101,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Veeva Systems during the 2nd quarter worth $102,000. LS Investment Advisors LLC acquired a new position in shares of Veeva Systems during the 2nd quarter worth $105,000. Huntington National Bank increased its stake in shares of Veeva Systems by 10.6% during the 2nd quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock worth $164,000 after purchasing an additional 256 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. increased its stake in shares of Veeva Systems by 460.0% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock worth $172,000 after purchasing an additional 2,300 shares during the last quarter. Hedge funds and other institutional investors own 71.51% of the company’s stock.
Several research firms have commented on VEEV. BidaskClub raised shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research note on Friday, August 25th. JMP Securities reaffirmed a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research note on Saturday, August 26th. KeyCorp reaffirmed a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research note on Friday, August 25th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research note on Tuesday, August 22nd. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $64.77.
About Veeva Systems
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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