Veeva Systems Inc. (NYSE:VEEV) Director Ronald E. F. Codd sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $40.31, for a total value of $80,620.00. Following the transaction, the director now owns 3,569 shares of the company’s stock, valued at $143,866.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 38.84 on Monday. The firm’s 50-day moving average is $40.34 and its 200 day moving average is $33.98. Veeva Systems Inc. has a 52 week low of $19.97 and a 52 week high of $42.58. The firm has a market capitalization of $5.29 billion, a P/E ratio of 104.97 and a beta of 1.58.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Tuesday, August 30th. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. The firm had revenue of $131.30 million for the quarter, compared to analysts’ expectations of $126.61 million. Veeva Systems had a net margin of 11.33% and a return on equity of 11.26%. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. Equities research analysts forecast that Veeva Systems Inc. will post $0.60 EPS for the current fiscal year.

Insider Buying and Selling by Quarter for Veeva Systems (NYSE:VEEV)

Several brokerages have recently issued reports on VEEV. KeyCorp boosted their price objective on Veeva Systems from $35.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 31st. Morgan Stanley reissued a “buy” rating and set a $44.00 target price on shares of Veeva Systems in a report on Tuesday, August 16th. Raymond James Financial Inc. began coverage on Veeva Systems in a report on Wednesday, August 24th. They set a “market perform” rating on the stock. Zacks Investment Research cut 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 stock a “buy” rating in a report on Friday, September 30th. Eight 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 an average price target of $41.46.

A number of hedge funds have recently modified their holdings of the company. Huntington National Bank purchased a new stake in shares of Veeva Systems during the second quarter valued at $101,000. FineMark National Bank & Trust boosted its stake in shares of Veeva Systems by 12.7% in the second quarter. FineMark National Bank & Trust now owns 3,060 shares of the company’s stock valued at $104,000 after buying an additional 346 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Veeva Systems by 38.0% in the first quarter. Legal & General Group Plc now owns 6,367 shares of the company’s stock valued at $160,000 after buying an additional 1,752 shares in the last quarter. DIAM Co. Ltd. purchased a new stake in shares of Veeva Systems during the second quarter valued at $170,000. Finally, Denver Investment Advisors LLC purchased a new stake in shares of Veeva Systems during the second quarter valued at $204,000. 70.67% of the stock is currently owned by hedge funds and other institutional investors.

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.

5 Day Chart for NYSE:VEEV

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