Veeva Systems Inc. (VEEV) President Matthew J. Wallach Sells 84,000 Shares of Stock
Veeva Systems Inc. (NYSE:VEEV) President Matthew J. Wallach sold 84,000 shares of Veeva Systems 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 completion of the transaction, the president now owns 42,000 shares of the company’s stock, valued at $1,741,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 41.28 on Monday. Veeva Systems Inc. has a one year low of $19.97 and a one year high of $42.58. The company’s 50-day moving average price is $40.26 and its 200 day moving average price is $33.46. The company has a market cap of $5.62 billion, a PE ratio of 111.57 and a beta of 1.58.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Tuesday, August 30th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. The business earned $131.30 million during the quarter, compared to analyst estimates of $126.61 million. Veeva Systems had a net margin of 11.33% and a return on equity of 11.26%. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. Equities analysts forecast that Veeva Systems Inc. will post $0.60 EPS for the current fiscal year.
A number of equities analysts recently commented on VEEV shares. Citigroup Inc. lifted their price target on Veeva Systems from $31.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 23rd. Canaccord Genuity restated a “hold” rating and issued a $43.00 target price (up from $35.00) on shares of Veeva Systems in a research note on Monday, August 29th. Raymond James Financial Inc. assumed coverage on Veeva Systems in a research note on Wednesday, August 24th. They issued a “market perform” rating for the company. Morgan Stanley lifted their target price on Veeva Systems from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, August 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Veeva Systems in a research note on Thursday, June 30th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $41.08.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Veeva Systems by 26.0% in the second quarter. Vanguard Group Inc. now owns 6,180,083 shares of the company’s stock worth $210,865,000 after buying an additional 1,276,212 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Veeva Systems by 21.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,388,888 shares of the company’s stock worth $81,509,000 after buying an additional 413,972 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in Veeva Systems by 124.4% in the second quarter. Lord Abbett & CO. LLC now owns 2,274,863 shares of the company’s stock worth $77,618,000 after buying an additional 1,261,115 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Veeva Systems during the second quarter worth $75,081,000. Finally, Riverbridge Partners LLC boosted its stake in Veeva Systems by 1.4% in the second quarter. Riverbridge Partners LLC now owns 1,981,733 shares of the company’s stock worth $67,617,000 after buying an additional 26,740 shares during the last quarter. 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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