Veeva Systems Inc. (VEEV) Insider Sells $78,065.46 in Stock
Veeva Systems Inc. (NYSE:VEEV) insider Eleni Nitsa Zuppas sold 1,329 shares of Veeva Systems stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $58.74, for a total value of $78,065.46. Following the completion of the transaction, the insider now owns 9,528 shares of the company’s stock, valued at approximately $559,674.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Eleni Nitsa Zuppas also recently made the following trade(s):
- On Wednesday, June 21st, Eleni Nitsa Zuppas sold 3,200 shares of Veeva Systems stock. The stock was sold at an average price of $62.33, for a total value of $199,456.00.
Shares of Veeva Systems Inc. (NYSE VEEV) traded down 1.56% during midday trading on Friday, reaching $56.96. The company’s stock had a trading volume of 1,355,057 shares. The company has a market capitalization of $7.97 billion, a P/E ratio of 72.84 and a beta of 1.65. Veeva Systems Inc. has a one year low of $36.55 and a one year high of $68.07. The stock’s 50-day moving average is $61.83 and its 200-day moving average is $56.97.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Veeva Systems had a return on equity of 13.31% and a net margin of 18.98%. The business had revenue of $166.59 million during the quarter, compared to analyst estimates of $164.26 million. During the same period last year, the business posted $0.15 earnings per share. The company’s quarterly revenue was up 26.8% on a year-over-year basis. On average, equities analysts expect that Veeva Systems Inc. will post $0.87 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in VEEV. Russell Investments Group Ltd. boosted its position in shares of Veeva Systems by 137.8% during the first quarter. Russell Investments Group Ltd. now owns 133,267 shares of the technology company’s stock worth $6,834,000 after buying an additional 77,220 shares during the period. IFP Advisors Inc boosted its position in shares of Veeva Systems by 26.6% during the first quarter. IFP Advisors Inc now owns 4,329 shares of the technology company’s stock worth $222,000 after buying an additional 909 shares during the period. Jennison Associates LLC boosted its position in shares of Veeva Systems by 4.4% during the first quarter. Jennison Associates LLC now owns 576,321 shares of the technology company’s stock worth $29,554,000 after buying an additional 24,353 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of Veeva Systems by 22.5% during the first quarter. Great West Life Assurance Co. Can now owns 10,340 shares of the technology company’s stock worth $529,000 after buying an additional 1,900 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of Veeva Systems during the first quarter worth $7,553,000. Institutional investors and hedge funds own 71.51% of the company’s stock.
VEEV has been the subject of a number of recent research reports. BidaskClub upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Morgan Stanley lowered Veeva Systems from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $53.00 to $68.00 in a research note on Monday, June 5th. They noted that the move was a valuation call. Bank of America Corporation raised Veeva Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $48.00 to $70.00 in a research note on Friday, May 26th. Deutsche Bank AG reissued a “hold” rating and set a $55.00 price target on shares of Veeva Systems in a research note on Tuesday, May 30th. Finally, Needham & Company LLC reissued a “buy” rating and set a $70.00 price target on shares of Veeva Systems in a research note on Friday, August 25th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $64.77.
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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