Insider Selling: Veeva Systems (NYSE:VEEV) Director Sells 750 Shares

Veeva Systems Inc. (NYSE:VEEV) Director Priscilla Hung sold 750 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the completion of the transaction, the director owned 3,242 shares of the company’s stock, valued at $846,291.68. The trade was a 18.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Veeva Systems Price Performance

Shares of NYSE VEEV traded up $1.32 during mid-day trading on Friday, hitting $262.30. 863,673 shares of the stock traded hands, compared to its average volume of 2,429,278. The company has a market cap of $42.47 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 1.11 and a beta of 0.97. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The firm has a 50 day simple moving average of $227.10 and a two-hundred day simple moving average of $190.44.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $927.96 million during the quarter, compared to analysts’ expectations of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%.The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.99 EPS. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. On average, equities research analysts anticipate that Veeva Systems Inc. will post 6.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of research reports. The Goldman Sachs Group dropped their price objective on shares of Veeva Systems from $190.00 to $165.00 and set a “sell” rating for the company in a report on Thursday, June 4th. UBS Group upped their price target on Veeva Systems from $190.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Guggenheim raised their price objective on Veeva Systems from $276.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Morgan Stanley lifted their price objective on Veeva Systems from $215.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 27th. Finally, Truist Financial upped their target price on Veeva Systems from $262.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $284.88.

Institutional Trading of Veeva Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of VEEV. California State Teachers Retirement System lifted its position in shares of Veeva Systems by 16,590.3% during the second quarter. California State Teachers Retirement System now owns 39,388,224 shares of the technology company’s stock valued at $6,990,228,000 after purchasing an additional 39,152,230 shares in the last quarter. Norges Bank bought a new stake in Veeva Systems in the 4th quarter worth about $332,412,000. Durable Capital Partners LP purchased a new stake in Veeva Systems in the 2nd quarter valued at about $281,351,000. Fundsmith LLP bought a new position in shares of Veeva Systems during the 2nd quarter worth approximately $144,955,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Veeva Systems by 203.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company’s stock worth $160,427,000 after buying an additional 611,868 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

About Veeva Systems

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company’s Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.