Veeva Systems Inc. (NYSE:VEEV) President Matthew J. Wallach sold 84,000 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $41.47, for a total value of $3,483,480.00. Following the transaction, the president now owns 42,000 shares in the company, valued at approximately $1,741,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 41.41 on Friday. Veeva Systems Inc. has a 1-year low of $19.97 and a 1-year high of $42.58. The firm has a 50-day moving average price of $40.19 and a 200 day moving average price of $33.36. The company has a market cap of $5.64 billion, a PE ratio of 111.92 and a beta of 1.59.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, August 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The business earned $131.30 million during the quarter, compared to analysts’ expectations of $126.61 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. On average, equities analysts anticipate that Veeva Systems Inc. will post $0.60 earnings per share for the current year.
VEEV has been the topic of a number of recent analyst reports. Bank of America Corp. initiated coverage on Veeva Systems in a report on Friday, June 17th. They set a “neutral” rating and a $40.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Veeva Systems in a report on Thursday, June 30th. Zacks Investment Research cut Veeva Systems from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Morgan Stanley restated a “buy” rating and set a $44.00 target price on shares of Veeva Systems in a report on Tuesday, August 16th. Finally, Citigroup Inc. raised their target price on Veeva Systems from $31.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $40.33.
Institutional investors have recently modified their holdings of the company. Teachers Advisors Inc. boosted its stake in shares of Veeva Systems by 26.6% in the first quarter. Teachers Advisors Inc. now owns 66,421 shares of the company’s stock valued at $1,663,000 after buying an additional 13,946 shares during the last quarter. Norges Bank bought a new stake in shares of Veeva Systems during the fourth quarter valued at $11,094,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Veeva Systems during the second quarter valued at $1,486,000. William Blair Investment Management LLC bought a new stake in shares of Veeva Systems during the second quarter valued at $75,081,000. Finally, Parametrica Management Ltd bought a new stake in shares of Veeva Systems during the first quarter valued at $202,000. 70.67% of the stock is owned by institutional investors and hedge funds.
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.
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