Veeva Systems Inc. (VEEV) SVP Frederic Lequient Sells 1,775 Shares of Stock
Veeva Systems Inc. (NYSE:VEEV) SVP Frederic Lequient sold 1,775 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $58.75, for a total transaction of $104,281.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Veeva Systems Inc. (NYSE VEEV) traded down 1.56% on Friday, hitting $56.96. 1,355,057 shares of the stock traded hands. The firm’s 50-day moving average is $62.01 and its 200 day moving average is $56.97. The firm has a market cap of $7.97 billion, a P/E ratio of 72.84 and a beta of 1.65. Veeva Systems Inc. has a 12-month low of $36.55 and a 12-month high of $68.07.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $166.59 million during the quarter, compared to analyst estimates of $164.26 million. Veeva Systems had a net margin of 18.98% and a return on equity of 13.31%. The business’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Equities research analysts forecast that Veeva Systems Inc. will post $0.87 EPS for the current fiscal year.
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VEEV has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 27th. Canaccord Genuity reissued a “buy” rating and issued a $70.00 price objective (up from $48.00) on shares of Veeva Systems in a research report on Friday, May 26th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a research report on Friday, August 25th. Stifel Nicolaus reissued a “buy” rating and issued a $67.00 price objective on shares of Veeva Systems in a research report on Monday, July 10th. Finally, Citigroup Inc. increased their price objective on shares of Veeva Systems from $61.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Veeva Systems currently has an average rating of “Buy” and a consensus target price of $64.77.
Several large investors have recently modified their holdings of the stock. Achmea Investment Management B.V. bought a new stake in shares of Veeva Systems in the second quarter worth $476,000. Navellier & Associates Inc increased its stake in shares of Veeva Systems by 4.1% in the second quarter. Navellier & Associates Inc now owns 115,578 shares of the technology company’s stock worth $7,086,000 after buying an additional 4,512 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Veeva Systems in the second quarter worth $825,000. Public Employees Retirement System of Ohio increased its stake in shares of Veeva Systems by 5.0% in the second quarter. Public Employees Retirement System of Ohio now owns 100,659 shares of the technology company’s stock worth $6,171,000 after buying an additional 4,809 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in shares of Veeva Systems in the second quarter worth $408,000. Institutional investors and hedge funds own 71.51% 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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