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.

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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.

Insider Buying and Selling by Quarter for Veeva Systems (NYSE:VEEV)

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