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, February 14th. The shares were sold at an average price of $43.89, for a total transaction of $3,686,760.00. Following the completion of the sale, the president now directly owns 23,711 shares of the company’s stock, valued at $1,040,675.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Veeva Systems Inc. (NYSE:VEEV) opened at 43.69 on Friday. Veeva Systems Inc. has a one year low of $21.60 and a one year high of $47.95. The stock’s 50 day moving average is $42.93 and its 200-day moving average is $41.02. The firm has a market capitalization of $5.99 billion, a PE ratio of 97.09 and a beta of 1.67.
Veeva Systems (NYSE:VEEV) last released its earnings results on Tuesday, November 22nd. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.06. The firm earned $142.80 million during the quarter, compared to analyst estimates of $135.67 million. Veeva Systems had a return on equity of 12.42% and a net margin of 12.73%. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 earnings per share. On average, analysts anticipate that Veeva Systems Inc. will post $0.68 EPS for the current fiscal year.
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Several research firms have weighed in on VEEV. Zacks Investment Research downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 30th. Evercore ISI downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 12th. Pacific Crest reaffirmed an “overweight” rating on shares of Veeva Systems in a research note on Saturday, January 7th. JMP Securities raised shares of Veeva Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a research note on Friday, December 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 price target on shares of Veeva Systems in a research note on Saturday, November 26th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $44.93.
Institutional investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC raised its position in Veeva Systems by 74.0% in the fourth quarter. William Blair Investment Management LLC now owns 3,883,002 shares of the company’s stock valued at $158,038,000 after buying an additional 1,651,830 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Veeva Systems by 21.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 6,540,897 shares of the company’s stock valued at $266,214,000 after buying an additional 1,149,023 shares during the last quarter. Fiera Capital Corp acquired a new position in Veeva Systems during the second quarter valued at approximately $28,186,000. Gilder Gagnon Howe & Co. LLC raised its position in Veeva Systems by 478.6% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 890,240 shares of the company’s stock valued at $36,749,000 after buying an additional 736,388 shares during the last quarter. Finally, First Trust Advisors LP raised 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. Hedge funds and other institutional investors own 66.72% of the company’s stock.
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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