Insider Selling: Veeva Systems Inc (NYSE:VEEV) Director Sells 601 Shares of Stock

Veeva Systems Inc (NYSE:VEEV) Director Paul J. Sekhri sold 601 shares of Veeva Systems stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $169.38, for a total value of $101,797.38. Following the completion of the transaction, the director now owns 16,494 shares of the company’s stock, valued at $2,793,753.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Veeva Systems stock traded up $0.42 during trading hours on Thursday, reaching $173.17. 662,508 shares of the stock traded hands, compared to its average volume of 1,357,818. The business’s 50 day moving average is $164.49. The company has a quick ratio of 3.73, a current ratio of 3.73 and a debt-to-equity ratio of 0.01. Veeva Systems Inc has a one year low of $73.47 and a one year high of $176.90. The company has a market capitalization of $25.44 billion, a price-to-earnings ratio of 139.65, a price-to-earnings-growth ratio of 7.01 and a beta of 1.41.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.08). Veeva Systems had a return on equity of 17.61% and a net margin of 28.41%. The business had revenue of $244.75 million during the quarter, compared to analysts’ expectations of $238.69 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, sell-side analysts expect that Veeva Systems Inc will post 1.6 EPS for the current year.

VEEV has been the topic of several recent analyst reports. Barclays raised Encompass Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $68.00 to $70.00 in a report on Thursday, May 30th. SunTrust Banks increased their price objective on shares of Veeva Systems to $150.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective (up from $135.00) on shares of Veeva Systems in a report on Wednesday, April 17th. KeyCorp increased their price objective on shares of Veeva Systems from $133.00 to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Deutsche Bank set a $18.00 price objective on shares of Commercial Metals and gave the company a “buy” rating in a report on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Veeva Systems currently has a consensus rating of “Buy” and an average target price of $147.00.

Institutional investors and hedge funds have recently modified their holdings of the company. Lyell Wealth Management LP raised its stake in shares of Veeva Systems by 4.1% in the first quarter. Lyell Wealth Management LP now owns 44,550 shares of the technology company’s stock worth $5,652,000 after purchasing an additional 1,753 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in Veeva Systems by 0.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,355 shares of the technology company’s stock valued at $836,000 after buying an additional 83 shares during the period. QS Investors LLC lifted its holdings in Veeva Systems by 235.7% in the fourth quarter. QS Investors LLC now owns 44,243 shares of the technology company’s stock valued at $3,952,000 after buying an additional 31,062 shares during the period. Toronto Dominion Bank raised its holdings in Veeva Systems by 24.1% in the fourth quarter. Toronto Dominion Bank now owns 16,282 shares of the technology company’s stock worth $1,454,000 after purchasing an additional 3,164 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in Veeva Systems by 4.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 167,914 shares of the technology company’s stock worth $21,302,000 after purchasing an additional 6,509 shares during the period. 77.68% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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