Insider Selling: Veeva Systems Inc. (VEEV) President Sells $917,615.70 in Stock
Veeva Systems Inc. (NYSE:VEEV) President Matthew J. Wallach sold 23,711 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $38.70, for a total value of $917,615.70. Following the completion of the sale, the president now owns 23,711 shares in the company, valued at $917,615.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 39.61 on Monday. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 107.05 and a beta of 1.60. Veeva Systems Inc. has a 1-year low of $19.97 and a 1-year high of $42.58. The firm has a 50-day moving average price of $39.17 and a 200 day moving average price of $36.20.
Veeva Systems (NYSE:VEEV) last released its quarterly 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 net margin of 11.33% and a return on equity of 11.26%. The business had revenue of $131.30 million for the quarter, compared to the consensus estimate of $126.61 million. During the same period last year, the firm earned $0.13 earnings per share. The company’s quarterly revenue was up 33.8% on a year-over-year basis. On average, analysts predict that Veeva Systems Inc. will post $0.63 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VEEV. Vanguard Group Inc. increased its position in Veeva Systems by 26.0% in the second quarter. Vanguard Group Inc. now owns 6,180,083 shares of the company’s stock valued at $210,865,000 after buying an additional 1,276,212 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Veeva Systems by 2.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,445,258 shares of the company’s stock valued at $100,940,000 after buying an additional 56,370 shares during the last quarter. First Trust Advisors LP increased its position in Veeva Systems by 41.3% in the third quarter. First Trust Advisors LP now owns 2,285,878 shares of the company’s stock valued at $94,361,000 after buying an additional 668,595 shares during the last quarter. Riverbridge Partners LLC increased its position in Veeva Systems by 15.0% in the third quarter. Riverbridge Partners LLC now owns 2,279,422 shares of the company’s stock valued at $94,095,000 after buying an additional 297,689 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Veeva Systems by 124.4% in the second quarter. Lord Abbett & CO. LLC now owns 2,274,863 shares of the company’s stock valued at $77,618,000 after buying an additional 1,261,115 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research lowered Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday, September 5th. Stifel Nicolaus boosted 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. JMP Securities started coverage on Veeva Systems in a report on Thursday, October 13th. They set a “market perform” rating on the stock. Goldman Sachs Group Inc. started coverage on Veeva Systems in a report on Tuesday, October 4th. They set a “neutral” rating and a $43.00 target price on the stock. Finally, Needham & Company LLC upped their target price on Veeva Systems from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 31st. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Veeva Systems has an average rating of “Hold” and an average 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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