Veeva Systems Inc (VEEV) President Sells $1,376,640.00 in Stock

Veeva Systems Inc (NYSE:VEEV) President Matthew J. Wallach sold 24,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $57.36, for a total transaction of $1,376,640.00. Following the completion of the transaction, the president now directly owns 24,000 shares in the company, valued at $1,376,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Veeva Systems Inc (NYSE:VEEV) traded up $1.00 during trading hours on Wednesday, reaching $57.90. 1,080,059 shares of the company were exchanged, compared to its average volume of 1,026,808. Veeva Systems Inc has a 1-year low of $41.30 and a 1-year high of $68.07. The company has a market capitalization of $8,080.00, a price-to-earnings ratio of 63.63, a price-to-earnings-growth ratio of 5.85 and a beta of 1.66.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Tuesday, December 5th. The technology company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. Veeva Systems had a net margin of 19.97% and a return on equity of 12.21%. The business had revenue of $176.10 million for the quarter, compared to analyst estimates of $171.99 million. During the same period last year, the firm earned $0.22 earnings per share. Veeva Systems’s revenue for the quarter was up 23.3% compared to the same quarter last year. analysts anticipate that Veeva Systems Inc will post 0.68 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in VEEV. Cerebellum GP LLC bought a new position in Veeva Systems during the fourth quarter worth about $129,000. American International Group Inc. bought a new position in Veeva Systems during the fourth quarter worth about $142,000. Northwestern Mutual Wealth Management Co. increased its position in Veeva Systems by 154.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,176 shares of the technology company’s stock worth $176,000 after acquiring an additional 1,927 shares during the period. 1st Global Advisors Inc. bought a new position in Veeva Systems during the second quarter worth about $200,000. Finally, Oakbrook Investments LLC bought a new position in Veeva Systems during the third quarter worth about $203,000. 69.89% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on VEEV. Vetr raised shares of Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price objective on the stock in a research report on Thursday, February 8th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a research report on Wednesday, December 6th. DA Davidson began coverage on shares of Veeva Systems in a research report on Friday, February 2nd. They issued a “buy” rating and a $75.00 price objective on the stock. Zacks Investment Research lowered shares of Veeva Systems from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, BidaskClub raised shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $67.54.

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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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