Matthew J. Wallach Sells 24,000 Shares of Veeva Systems Inc. (NYSE:VEEV) Stock
Veeva Systems Inc. (NYSE:VEEV) President Matthew J. Wallach sold 24,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $63.15, for a total transaction of $1,515,600.00. Following the completion of the transaction, the president now directly owns 24,000 shares in the company, valued at approximately $1,515,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Veeva Systems Inc. (NYSE VEEV) traded down 0.62% during midday trading on Monday, hitting $63.85. The stock had a trading volume of 1,021,095 shares. The company has a market cap of $8.92 billion, a PE ratio of 102.82 and a beta of 1.63. The stock’s 50 day moving average price is $61.65 and its 200-day moving average price is $50.34. Veeva Systems Inc. has a 52 week low of $35.92 and a 52 week high of $68.07.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, May 25th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.04. Veeva Systems had a return on equity of 12.28% and a net margin of 15.86%. The company had revenue of $157.90 million for the quarter, compared to analyst estimates of $151.82 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. Veeva Systems’s revenue for the quarter was up 31.8% on a year-over-year basis. Equities research analysts predict that Veeva Systems Inc. will post $0.83 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the company. Navellier & Associates Inc raised its position in shares of Veeva Systems by 14.7% in the first quarter. Navellier & Associates Inc now owns 111,066 shares of the technology company’s stock valued at $5,695,000 after buying an additional 14,232 shares in the last quarter. Sanders Morris Harris Inc. acquired a new position in shares of Veeva Systems during the first quarter valued at $4,179,000. Capital Impact Advisors LLC acquired a new position in shares of Veeva Systems during the first quarter valued at $976,000. Cim LLC raised its position in shares of Veeva Systems by 1.9% in the first quarter. Cim LLC now owns 10,503 shares of the technology company’s stock valued at $539,000 after buying an additional 196 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Veeva Systems by 27.8% in the first quarter. Bank of Montreal Can now owns 139,991 shares of the technology company’s stock valued at $7,178,000 after buying an additional 30,432 shares in the last quarter. Institutional investors own 80.45% of the company’s stock.
A number of brokerages have issued reports on VEEV. Morgan Stanley cut shares of Veeva Systems from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $53.00 to $68.00 in a report on Monday, June 5th. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating and issued a $67.00 target price (up previously from $60.00) on shares of Veeva Systems in a report on Sunday, May 21st. Deutsche Bank AG reissued a “hold” rating and issued a $55.00 target price on shares of Veeva Systems in a report on Tuesday, May 30th. Bank of America Corporation raised shares of Veeva Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $48.00 to $70.00 in a report on Friday, May 26th. Finally, BidaskClub cut shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $62.00.
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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