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 the company’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 directly owns 42,000 shares of the company’s stock, valued at $1,741,740. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Veeva Systems Inc. (NYSE:VEEV) opened at 41.28 on Monday. The stock has a market capitalization of $5.62 billion, a P/E ratio of 111.57 and a beta of 1.58. The stock’s 50 day moving average price is $40.26 and its 200-day moving average price is $33.46. Veeva Systems Inc. has a 52 week low of $19.97 and a 52 week high of $42.58.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, August 30th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The company earned $131.30 million during the quarter, compared to the consensus estimate of $126.61 million. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The company’s revenue was up 33.8% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. Equities research analysts expect that Veeva Systems Inc. will post $0.60 earnings per share for the current year.
Several analysts have recently weighed in on the company. KeyCorp boosted their target price on Veeva Systems from $35.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, August 31st. Morgan Stanley reissued a “buy” rating and issued a $44.00 target price on shares of Veeva Systems in a report on Tuesday, August 16th. Raymond James Financial Inc. assumed coverage on Veeva Systems in a report on Wednesday, August 24th. They issued a “market perform” rating for the company. Zacks Investment Research downgraded Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday, September 5th. Finally, Stifel Nicolaus boosted their target price on Veeva Systems from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Veeva Systems currently has a consensus rating of “Buy” and an average target price of $41.08.
Several hedge funds have recently made changes to their positions in the stock. First Republic Investment Management Inc. increased its position in Veeva Systems by 54.0% in the first quarter. First Republic Investment Management Inc. now owns 43,730 shares of the company’s stock worth $1,095,000 after buying an additional 15,335 shares during the period. Squarepoint Ops LLC purchased a new position in Veeva Systems during the first quarter worth approximately $982,000. Envestnet Asset Management Inc. increased its position in Veeva Systems by 48.6% in the first quarter. Envestnet Asset Management Inc. now owns 46,029 shares of the company’s stock worth $1,153,000 after buying an additional 15,050 shares during the period. Legal & General Group Plc increased its position in Veeva Systems by 38.0% in the first quarter. Legal & General Group Plc now owns 6,367 shares of the company’s stock worth $160,000 after buying an additional 1,752 shares during the period. Finally, Renaissance Technologies LLC increased its position in Veeva Systems by 12.7% in the first quarter. Renaissance Technologies LLC now owns 914,500 shares of the company’s stock worth $22,899,000 after buying an additional 103,300 shares during the period. Institutional investors own 70.67% of the company’s stock.
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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