Insider Selling: Veeva Systems Inc. (VEEV) Director Sells $169,350.00 in Stock
Veeva Systems Inc. (NYSE:VEEV) Director Ronald E. F. Codd sold 3,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $56.45, for a total value of $169,350.00. Following the completion of the sale, the director now owns 9,275 shares of the company’s stock, valued at $523,573.75. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 56.14 on Friday. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 71.79 and a beta of 1.65. The firm has a 50-day moving average price of $60.34 and a 200-day moving average price of $57.80. Veeva Systems Inc. has a 52 week low of $36.55 and a 52 week high of $68.07.
Veeva Systems (NYSE:VEEV) last released its earnings results on Thursday, August 24th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $166.59 million during the quarter, compared to analysts’ expectations of $164.26 million. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The company’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. On average, equities analysts anticipate that Veeva Systems Inc. will post $0.87 earnings per share for the current year.
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VEEV has been the subject of several analyst reports. Zacks Investment Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub lowered Veeva Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 14th. Canaccord Genuity restated a “buy” rating and issued a $70.00 price objective (up from $48.00) on shares of Veeva Systems in a research note on Friday, May 26th. Needham & Company LLC restated a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a research note on Friday, August 25th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $67.00 price objective on shares of Veeva Systems in a research note on Monday, July 10th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $64.77.
Several hedge funds have recently added to or reduced their stakes in the company. Achmea Investment Management B.V. purchased a new stake in shares of Veeva Systems during the second quarter worth about $476,000. Navellier & Associates Inc increased its stake in shares of Veeva Systems by 4.1% during the second quarter. Navellier & Associates Inc now owns 115,578 shares of the technology company’s stock worth $7,086,000 after purchasing an additional 4,512 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Veeva Systems during the second quarter worth about $825,000. Public Employees Retirement System of Ohio increased its stake in shares of Veeva Systems by 5.0% during the second quarter. Public Employees Retirement System of Ohio now owns 100,659 shares of the technology company’s stock worth $6,171,000 after purchasing an additional 4,809 shares in the last quarter. Finally, Koch Industries Inc. purchased a new stake in shares of Veeva Systems during the second quarter worth about $408,000. 71.46% of the stock is owned by institutional investors and hedge funds.
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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