Paul J. Sekhri Sells 17,593 Shares of Veeva Systems Inc. (VEEV) Stock
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.
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.
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