Veeva Systems Inc. (VEEV) SVP Jonathan Faddis Sells 37,500 Shares
Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 37,500 shares of Veeva Systems stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $56.38, for a total transaction of $2,114,250.00. Following the sale, the senior vice president now owns 39,149 shares of the company’s stock, valued at $2,207,220.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Jonathan Faddis also recently made the following trade(s):
- On Tuesday, September 5th, Jonathan Faddis sold 931 shares of Veeva Systems stock. The shares were sold at an average price of $58.74, for a total transaction of $54,686.94.
Veeva Systems Inc. (VEEV) opened at 57.08 on Tuesday. The stock has a 50 day moving average price of $58.63 and a 200 day moving average price of $58.45. Veeva Systems Inc. has a 52 week low of $36.55 and a 52 week high of $68.07. The stock has a market cap of $8.03 billion, a PE ratio of 72.99 and a beta of 1.63.
Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Veeva Systems had a return on equity of 12.77% and a net margin of 18.98%. The company had revenue of $166.59 million during the quarter, compared to the consensus estimate of $164.26 million. During the same period last year, the firm earned $0.15 earnings per share. The company’s revenue was up 26.8% on a year-over-year basis. On average, equities analysts predict that Veeva Systems Inc. will post $0.87 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley increased its holdings in Veeva Systems by 113.2% during the 1st quarter. Morgan Stanley now owns 8,439,930 shares of the technology company’s stock worth $432,800,000 after purchasing an additional 4,482,021 shares during the last quarter. BlackRock Inc. raised its position in shares of Veeva Systems by 24,931.6% in the 1st quarter. BlackRock Inc. now owns 4,011,310 shares of the technology company’s stock valued at $205,701,000 after purchasing an additional 3,995,285 shares in the last quarter. FMR LLC raised its position in shares of Veeva Systems by 398.1% in the 1st quarter. FMR LLC now owns 2,290,030 shares of the technology company’s stock valued at $117,433,000 after purchasing an additional 1,830,270 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Veeva Systems by 16.9% in the 1st quarter. Vanguard Group Inc. now owns 8,835,128 shares of the technology company’s stock valued at $453,066,000 after purchasing an additional 1,276,901 shares in the last quarter. Finally, State Street Corp raised its position in shares of Veeva Systems by 52.1% in the 2nd quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock valued at $113,851,000 after purchasing an additional 635,842 shares in the last quarter. 71.46% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the company. Morgan Stanley lowered Veeva Systems from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $53.00 to $68.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. BidaskClub lowered Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Veeva Systems in a research note on Monday, July 10th. Zacks Investment Research cut Veeva Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price objective on shares of Veeva Systems in a report on Tuesday, August 22nd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target 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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