Veeva Systems (NYSE:VEEV) Director Sells $116,730.00 in Stock

Veeva Systems Inc. (NYSE:VEEV) Director Priscilla Hung sold 750 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director directly owned 3,253 shares of the company’s stock, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Priscilla Hung also recently made the following trade(s):

• On Friday, April 10th, Priscilla Hung sold 750 shares of Veeva Systems stock. The shares were sold at an average price of $153.50, for a total transaction of $115,125.00.

Veeva Systems Trading Down 2.3%

VEEV opened at $167.29 on Thursday. The business’s 50 day moving average is $174.42 and its 200-day moving average is $214.56. The stock has a market cap of $27.32 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 0.76 and a beta of 0.92. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The business had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. During the same period in the prior year, the company posted $1.74 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, analysts forecast that Veeva Systems Inc. will post 6.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on VEEV shares. TD Cowen decreased their target price on shares of Veeva Systems from $380.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Citigroup lowered shares of Veeva Systems from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $291.00 to $176.00 in a research note on Friday, April 10th. Morgan Stanley raised their price objective on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Piper Sandler dropped their target price on Veeva Systems from $355.00 to $285.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Finally, Wells Fargo & Company cut their target price on Veeva Systems from $333.00 to $317.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $278.70.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC grew its stake in Veeva Systems by 196.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock valued at $25,000 after acquiring an additional 55 shares in the last quarter. SHP Wealth Management acquired a new stake in shares of Veeva Systems during the fourth quarter worth approximately $26,000. Board of the Pension Protection Fund acquired a new position in Veeva Systems in the 4th quarter valued at approximately $27,000. Raiffeisen Bank International AG acquired a new position in Veeva Systems in the 3rd quarter valued at approximately $28,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 100 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

About Veeva Systems

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.