Insider Selling: Veeva Systems Inc. (VEEV) Director Sells 3,000 Shares of Stock
Veeva Systems Inc. (NYSE:VEEV) Director Ronald E. F. Codd sold 3,000 shares of Veeva Systems stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $56.45, for a total transaction of $169,350.00. Following the transaction, the director now directly owns 9,275 shares in the company, valued at $523,573.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Veeva Systems Inc. (VEEV) traded up 0.04% during trading on Tuesday, reaching $56.19. 1,125,566 shares of the company’s stock traded hands. The company has a market cap of $7.90 billion, a PE ratio of 71.85 and a beta of 1.65. The company has a 50 day moving average price of $60.56 and a 200-day moving average price of $57.71. Veeva Systems Inc. has a 12-month low of $36.55 and a 12-month high of $68.07.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The business had revenue of $166.59 million for the quarter, compared to analyst estimates of $164.26 million. During the same period last year, the business earned $0.15 EPS. The company’s revenue was up 26.8% on a year-over-year basis. On average, equities research analysts forecast that Veeva Systems Inc. will post $0.87 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. QS Investors LLC raised its holdings in shares of Veeva Systems by 0.5% in the 2nd quarter. QS Investors LLC now owns 3,832 shares of the technology company’s stock valued at $235,000 after purchasing an additional 19 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Veeva Systems by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 10,387 shares of the technology company’s stock valued at $637,000 after purchasing an additional 27 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Veeva Systems by 2.9% in the 1st quarter. Teacher Retirement System of Texas now owns 7,125 shares of the technology company’s stock valued at $365,000 after purchasing an additional 204 shares in the last quarter. Creative Planning raised its holdings in shares of Veeva Systems by 1.5% in the 2nd quarter. Creative Planning now owns 15,422 shares of the technology company’s stock valued at $946,000 after purchasing an additional 232 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of Veeva Systems by 10.6% in the 2nd quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock valued at $164,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 71.46% of the company’s stock.
Several equities analysts recently issued reports on VEEV shares. Canaccord Genuity reissued a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a report on Tuesday, August 22nd. Stifel Nicolaus lifted their price objective on shares of Veeva Systems from $60.00 to $67.00 and gave the company a “buy” rating in a report on Saturday, May 27th. Bank of America Corporation raised shares of Veeva Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $48.00 to $70.00 in a report on Friday, May 26th. Needham & Company LLC reissued a “buy” rating and set a $75.00 price objective (up from $48.00) on shares of Veeva Systems in a report on Sunday, May 28th. Finally, Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, May 31st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $64.77.
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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