Veeva Systems Inc. (NYSE:VEEV) Director Paul J. Sekhri sold 17,593 shares of the stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $37.73, for a total value of $663,783.89. Following the transaction, the director now directly owns 21,108 shares of the company’s stock, valued at $796,404.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 37.97 on Tuesday. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 102.62 and a beta of 1.58. The company’s 50 day moving average price is $40.14 and its 200-day moving average price is $34.61. Veeva Systems Inc. has a 52 week low of $19.97 and a 52 week high of $42.58.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Tuesday, August 30th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The firm earned $131.30 million during the quarter, compared to analyst estimates of $126.61 million. During the same quarter in the previous year, the business earned $0.13 EPS. Veeva Systems’s revenue for the quarter was up 33.8% compared to the same quarter last year. Analysts anticipate that Veeva Systems Inc. will post $0.60 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust raised its position in shares of Veeva Systems by 3.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 1,038,773 shares of the company’s stock valued at $35,443,000 after buying an additional 37,926 shares in the last quarter. Huntington National Bank acquired a new position in shares of Veeva Systems during the second quarter valued at $101,000. Bank of Montreal Can acquired a new position in shares of Veeva Systems during the second quarter valued at $1,160,000. Pembroke Management LTD acquired a new position in shares of Veeva Systems during the second quarter valued at $6,714,000. Finally, IBM Retirement Fund acquired a new position in shares of Veeva Systems during the second quarter valued at $331,000. Hedge funds and other institutional investors own 70.69% of the company’s stock.
A number of brokerages recently commented on VEEV. Stifel Nicolaus increased their price target on Veeva Systems from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, September 30th. Bank of America Corp. reissued a “hold” rating and set a $44.00 price target on shares of Veeva Systems in a research note on Friday, September 30th. Needham & Company LLC reissued a “buy” rating and set a $46.00 price target (up from $43.00) on shares of Veeva Systems in a research note on Friday, September 30th. Goldman Sachs Group Inc. began coverage on Veeva Systems in a research note on Tuesday, October 4th. They set a “neutral” rating and a $43.00 price target for the company. Finally, Pacific Crest set a $42.00 price target on Veeva Systems and gave the company a “buy” rating in a research note 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.46.
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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