Matthew J. Wallach Sells 24,000 Shares of Veeva Systems Inc. (VEEV) Stock
Veeva Systems Inc. (NYSE:VEEV) President Matthew J. Wallach sold 24,000 shares of Veeva Systems stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $55.83, for a total value of $1,339,920.00. Following the completion of the transaction, the president now owns 24,000 shares of the company’s stock, valued at approximately $1,339,920. The sale was disclosed in a document filed with the SEC, which is available at this link.
Veeva Systems Inc. (VEEV) traded down 0.82% on Friday, reaching $55.68. The company had a trading volume of 652,021 shares. Veeva Systems Inc. has a one year low of $36.55 and a one year high of $68.07. The company has a 50-day moving average of $60.34 and a 200 day moving average of $57.80. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 71.20 and a beta of 1.65.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $166.59 million for the quarter, compared to analyst estimates of $164.26 million. Veeva Systems had a return on equity of 12.77% and a net margin of 18.98%. Veeva Systems’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 EPS. On average, equities research analysts predict that Veeva Systems Inc. will post $0.87 EPS for the current year.
VEEV has been the subject of several research reports. BidaskClub upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Morgan Stanley lowered Veeva Systems from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $53.00 to $68.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Zacks Investment Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 27th. JMP Securities reiterated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research report on Saturday, August 26th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $67.00 target price on shares of Veeva Systems in a research report on Monday, July 10th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Veeva Systems currently has a consensus rating of “Buy” and an average price target of $64.77.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VEEV. Russell Investments Group Ltd. grew its position in Veeva Systems by 137.8% during the 1st quarter. Russell Investments Group Ltd. now owns 133,267 shares of the technology company’s stock worth $6,834,000 after acquiring an additional 77,220 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Veeva Systems by 22.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 10,340 shares of the technology company’s stock worth $529,000 after acquiring an additional 1,900 shares during the last quarter. Bank of New York Mellon Corp grew its position in Veeva Systems by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 510,450 shares of the technology company’s stock worth $26,177,000 after acquiring an additional 27,282 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Veeva Systems by 135.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,809 shares of the technology company’s stock worth $195,000 after acquiring an additional 2,192 shares during the last quarter. Finally, Comerica Bank bought a new stake in Veeva Systems during the 1st quarter worth approximately $204,000. Institutional investors and hedge funds own 71.46% of the company’s stock.
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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