Ronald E. F. Codd Sells 3,000 Shares of Veeva Systems Inc. (VEEV) Stock
Veeva Systems Inc. (NYSE:VEEV) Director Ronald E. F. Codd sold 3,000 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $41.00, for a total transaction of $123,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Veeva Systems Inc. (NYSE:VEEV) opened at 41.56 on Wednesday. The firm has a market cap of $5.66 billion, a P/E ratio of 112.32 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 stock’s 50 day moving average is $39.12 and its 200-day moving average is $37.03.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $142.80 million for the quarter, compared to analyst estimates of $135.67 million. Veeva Systems had a return on equity of 11.26% and a net margin of 11.33%. The company’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. Analysts forecast that Veeva Systems Inc. will post $0.63 EPS for the current year.
Several equities research analysts have commented on the stock. KeyCorp boosted their target price on shares of 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 restated a “buy” rating and set a $44.00 target price on shares of Veeva Systems in a research report on Tuesday, August 16th. Raymond James Financial Inc. assumed coverage on shares of Veeva Systems in a research report on Wednesday, August 24th. They set a “market perform” rating on the stock. Zacks Investment Research lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Monday, September 5th. Finally, Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, September 30th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $41.46.
Several hedge funds and other institutional investors have recently modified their holdings of VEEV. William Blair Investment Management LLC acquired a new position in shares of Veeva Systems during the second quarter worth approximately $75,081,000. Vanguard Group Inc. raised its position in shares of Veeva Systems by 26.0% in the second quarter. Vanguard Group Inc. now owns 6,180,083 shares of the company’s stock worth $210,865,000 after buying an additional 1,276,212 shares during the period. Lord Abbett & CO. LLC raised its position in shares of Veeva Systems by 124.4% in the second quarter. Lord Abbett & CO. LLC now owns 2,274,863 shares of the company’s stock worth $77,618,000 after buying an additional 1,261,115 shares during the period. 1832 Asset Management L.P. raised its position in shares of Veeva Systems by 724.3% in the second quarter. 1832 Asset Management L.P. now owns 1,266,900 shares of the company’s stock worth $42,615,000 after buying an additional 1,113,200 shares during the period. Finally, Baird Financial Group Inc. acquired a new position in shares of Veeva Systems during the second quarter worth approximately $36,338,000. 71.12% of the stock is currently owned by 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.
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