Veeva Systems Inc. (NYSE:VEEV) Director Paul J. Sekhri sold 17,593 shares of the firm’s stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $37.73, for a total value of $663,783.89. Following the transaction, the director now owns 21,108 shares in the company, valued at approximately $796,404.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Veeva Systems Inc. (NYSE:VEEV) opened at 37.91 on Friday. The firm has a 50 day moving average price of $40.20 and a 200 day moving average price of $34.29. The stock has a market capitalization of $5.16 billion, a P/E ratio of 102.46 and a beta of 1.58. Veeva Systems Inc. has a 52 week low of $19.97 and a 52 week high of $42.58.

Veeva Systems (NYSE:VEEV) last issued its earnings results 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. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The company earned $131.30 million during the quarter, compared to the consensus estimate of $126.61 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. The company’s revenue was up 33.8% compared to the same quarter last year. Equities research analysts predict that Veeva Systems Inc. will post $0.60 earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors Inc. boosted its position in Veeva Systems by 26.6% in the first quarter. Teachers Advisors Inc. now owns 66,421 shares of the company’s stock valued at $1,663,000 after buying an additional 13,946 shares during the period. Franklin Resources Inc. boosted its position in Veeva Systems by 2.7% in the first quarter. Franklin Resources Inc. now owns 513,417 shares of the company’s stock valued at $12,856,000 after buying an additional 13,400 shares during the period. 1832 Asset Management L.P. boosted its position in Veeva Systems by 6.1% in the first quarter. 1832 Asset Management L.P. now owns 153,700 shares of the company’s stock valued at $6,451,000 after buying an additional 8,900 shares during the period. AXA boosted its position in Veeva Systems by 4.5% in the first quarter. AXA now owns 184,000 shares of the company’s stock valued at $4,607,000 after buying an additional 8,000 shares during the period. Finally, Renaissance Technologies LLC boosted 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 valued at $22,899,000 after buying an additional 103,300 shares during the period. Institutional investors and hedge funds own 70.67% of the company’s stock.

VEEV has been the topic of a number of research reports. Zacks Investment Research downgraded Veeva Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Canaccord Genuity restated a “hold” rating and set a $43.00 price target (up previously from $35.00) on shares of Veeva Systems in a research note on Monday, August 29th. Bank of America Corp. initiated coverage on Veeva Systems in a research note on Friday, June 17th. They set a “neutral” rating and a $40.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $46.00 price target (up previously from $43.00) on shares of Veeva Systems in a research note on Friday, September 30th. Finally, Pacific Crest set a $42.00 price target on Veeva Systems and gave the stock a “buy” rating in a research note on Wednesday, August 31st. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $41.46.

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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