Veeva Systems Inc. (NYSE:VEEV) President Matthew J. Wallach sold 84,000 shares of the firm’s stock in a transaction that occurred on Friday, October 14th. The stock was sold at an average price of $38.01, for a total transaction of $3,192,840.00. Following the sale, the president now directly owns 42,000 shares of the company’s stock, valued at approximately $1,596,420. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 38.45 on Wednesday. The company has a market capitalization of $5.24 billion, a PE ratio of 103.92 and a beta of 1.58. Veeva Systems Inc. has a 1-year low of $19.97 and a 1-year high of $42.58. The stock’s 50 day moving average price is $40.14 and its 200-day moving average price is $34.71.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Tuesday, August 30th. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The company had revenue of $131.30 million for the quarter, compared to analysts’ expectations of $126.61 million. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 earnings per share. On average, equities analysts predict that Veeva Systems Inc. will post $0.60 EPS for the current year.
Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Monday, September 5th. Stifel Nicolaus increased their target price on Veeva Systems from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, September 30th. JMP Securities began coverage on Veeva Systems in a report on Thursday, October 13th. They issued a “market perform” rating on the stock. Goldman Sachs Group Inc. began coverage on Veeva Systems in a report on Tuesday, October 4th. They issued a “neutral” rating and a $43.00 target price on the stock. Finally, Needham & Company LLC increased their target price on Veeva Systems from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 31st. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Veeva Systems currently has an average rating of “Hold” and a consensus price target of $41.46.
Large investors have recently modified their holdings of the company. Huntington National Bank purchased a new stake in shares of Veeva Systems during the second quarter valued at $101,000. FineMark National Bank & Trust boosted its stake in shares of Veeva Systems by 12.7% in the second quarter. FineMark National Bank & Trust now owns 3,060 shares of the company’s stock valued at $104,000 after buying an additional 346 shares during the last quarter. DIAM Co. Ltd. purchased a new stake in shares of Veeva Systems during the second quarter valued at $170,000. Denver Investment Advisors LLC purchased a new stake in shares of Veeva Systems during the second quarter valued at $204,000. Finally, Legal & General Group Plc boosted its stake in shares of Veeva Systems by 6.8% in the second quarter. Legal & General Group Plc now owns 6,800 shares of the company’s stock valued at $232,000 after buying an additional 433 shares during the last quarter. 70.69% of the stock is currently owned by institutional investors.
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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