Veeva Systems Inc. (VEEV) Director Ronald E. F. Codd Sells 2,000 Shares
Veeva Systems Inc. (NYSE:VEEV) Director Ronald E. F. Codd sold 2,000 shares of Veeva Systems stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $58.74, for a total transaction of $117,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Veeva Systems Inc. (NYSE VEEV) traded down 0.65% during trading on Thursday, reaching $57.86. 1,482,479 shares of the company traded hands. The firm has a 50 day moving average of $62.18 and a 200 day moving average of $56.97. Veeva Systems Inc. has a 52 week low of $36.55 and a 52 week high of $68.07. The stock has a market capitalization of $8.10 billion, a PE ratio of 73.99 and a beta of 1.65.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Veeva Systems had a net margin of 18.98% and a return on equity of 13.31%. The firm had revenue of $166.59 million during the quarter, compared to analysts’ expectations of $164.26 million. During the same period last year, the business earned $0.15 earnings per share. Veeva Systems’s revenue was up 26.8% compared to the same quarter last year. On average, equities analysts predict that Veeva Systems Inc. will post $0.87 EPS for the current year.
A number of analysts have issued reports on the stock. BidaskClub upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday. KeyCorp restated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a report on Friday, August 25th. Canaccord Genuity restated a “buy” rating and issued a $70.00 target price (up from $48.00) on shares of Veeva Systems in a report on Friday, May 26th. Needham & Company LLC restated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a report on Friday, August 25th. Finally, Stifel Nicolaus boosted their target price on shares of Veeva Systems from $60.00 to $67.00 and gave the stock a “buy” rating in a report on Saturday, May 27th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $64.77.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Capital Management LLC boosted its stake in shares of Veeva Systems by 3.4% in the first quarter. Brown Capital Management LLC now owns 7,423,513 shares of the technology company’s stock valued at $380,678,000 after purchasing an additional 246,816 shares during the period. Rhumbline Advisers lifted its position in shares of Veeva Systems by 9.2% during the 2nd quarter. Rhumbline Advisers now owns 120,387 shares of the technology company’s stock worth $7,381,000 after buying an additional 10,093 shares during the last quarter. State Street Corp lifted its position in shares of Veeva Systems by 4.4% during the 1st quarter. State Street Corp now owns 1,221,052 shares of the technology company’s stock worth $62,616,000 after buying an additional 51,135 shares during the last quarter. Creative Planning lifted its position in shares of Veeva Systems by 1.5% during the 2nd quarter. Creative Planning now owns 15,422 shares of the technology company’s stock worth $946,000 after buying an additional 232 shares during the last quarter. Finally, Comerica Bank purchased a new stake in shares of Veeva Systems during the 1st quarter worth approximately $204,000. 71.51% of the stock is owned by institutional investors and hedge funds.
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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