Veeva Systems Inc (NYSE:VEEV) Director Ronald E. F. Codd sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $79.86, for a total value of $798,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Veeva Systems traded up $2.20, hitting $82.51, during mid-day trading on Thursday, according to MarketBeat Ratings. The company had a trading volume of 675,066 shares, compared to its average volume of 1,120,308. The stock has a market cap of $11.40 billion, a P/E ratio of 89.70, a PEG ratio of 4.39 and a beta of 1.42. Veeva Systems Inc has a 1-year low of $52.17 and a 1-year high of $85.00.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, May 24th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $195.55 million for the quarter, compared to analysts’ expectations of $188.92 million. Veeva Systems had a return on equity of 12.47% and a net margin of 20.78%. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. sell-side analysts expect that Veeva Systems Inc will post 1.02 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. We Are One Seven LLC raised its stake in shares of Veeva Systems by 147.6% in the first quarter. We Are One Seven LLC now owns 1,679 shares of the technology company’s stock valued at $123,000 after acquiring an additional 1,001 shares in the last quarter. Next Century Growth Investors LLC acquired a new stake in shares of Veeva Systems in the first quarter valued at $130,000. Cerebellum GP LLC raised its stake in shares of Veeva Systems by 1,645.0% in the second quarter. Cerebellum GP LLC now owns 2,251 shares of the technology company’s stock valued at $173,000 after acquiring an additional 2,122 shares in the last quarter. American International Group Inc. acquired a new stake in shares of Veeva Systems in the fourth quarter valued at $142,000. Finally, Diversified Trust Co acquired a new stake in shares of Veeva Systems in the first quarter valued at $200,000. Institutional investors and hedge funds own 72.92% of the company’s stock.
Several brokerages recently weighed in on VEEV. Morgan Stanley increased their price objective on Veeva Systems from $78.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 27th. SunTrust Banks began coverage on Veeva Systems in a research report on Monday, June 25th. They issued a “buy” rating and a $100.00 price objective for the company. Zacks Investment Research lowered Veeva Systems from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Deutsche Bank increased their price objective on Veeva Systems from $55.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, May 25th. Finally, Needham & Company LLC increased their price objective on Veeva Systems to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 25th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $79.34.
Veeva Systems Company Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.
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