Matthew J. Wallach Sells 84,000 Shares of Veeva Systems Inc. (VEEV) Stock
Veeva Systems Inc. (NYSE:VEEV) President Matthew J. Wallach sold 84,000 shares of Veeva Systems stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $38.61, for a total value of $3,243,240.00. Following the transaction, the president now owns 23,711 shares in the company, valued at $915,481.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 39.34 on Friday. The firm’s 50-day moving average price is $39.24 and its 200 day moving average price is $36.11. Veeva Systems Inc. has a 52 week low of $19.97 and a 52 week high of $42.58. The company has a market capitalization of $5.36 billion, a PE ratio of 106.32 and a beta of 1.60.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Tuesday, August 30th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. Veeva Systems had a net margin of 11.33% and a return on equity of 11.26%. The company had revenue of $131.30 million for the quarter, compared to analyst estimates of $126.61 million. During the same period in the prior year, the company earned $0.13 earnings per share. The firm’s revenue was up 33.8% on a year-over-year basis. Equities analysts predict that Veeva Systems Inc. will post $0.63 EPS for the current year.
A number of large investors have recently bought and sold shares of the stock. Teachers Advisors Inc. raised its stake 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 last quarter. AXA raised its stake 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 last quarter. Renaissance Technologies LLC raised its stake 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 last quarter. Envestnet Asset Management Inc. raised its stake in Veeva Systems by 48.6% in the first quarter. Envestnet Asset Management Inc. now owns 46,029 shares of the company’s stock valued at $1,153,000 after buying an additional 15,050 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Veeva Systems during the first quarter valued at approximately $982,000. 71.18% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the company. KeyCorp raised their price target 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 set a $44.00 price target 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 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 raised their price target on Veeva Systems from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, September 30th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price 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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