Insider Selling: Veeva Systems Inc. (VEEV) EVP Sells $479,493.75 in Stock

Veeva Systems Inc. (NYSE:VEEV) EVP Alan Mateo sold 8,025 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $59.75, for a total value of $479,493.75. Following the transaction, the executive vice president now owns 14,264 shares of the company’s stock, valued at $852,274. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Alan Mateo also recently made the following trade(s):

  • On Friday, June 2nd, Alan Mateo sold 1,181 shares of Veeva Systems stock. The stock was sold at an average price of $65.06, for a total value of $76,835.86.
  • On Monday, May 15th, Alan Mateo sold 8,025 shares of Veeva Systems stock. The stock was sold at an average price of $56.57, for a total value of $453,974.25.
  • On Monday, April 17th, Alan Mateo sold 10,083 shares of Veeva Systems stock. The stock was sold at an average price of $50.57, for a total value of $509,897.31.
  • On Monday, March 20th, Alan Mateo sold 63,433 shares of Veeva Systems stock. The stock was sold at an average price of $49.90, for a total value of $3,165,306.70.

Shares of Veeva Systems Inc. (NYSE:VEEV) traded up 0.90% on Tuesday, reaching $62.91. The company had a trading volume of 367,218 shares. The stock has a market cap of $8.79 billion, a PE ratio of 101.30 and a beta of 1.63. Veeva Systems Inc. has a 12 month low of $32.61 and a 12 month high of $68.07. The stock has a 50-day moving average price of $59.96 and a 200-day moving average price of $49.34.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, May 25th. The technology company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.04. The company had revenue of $157.90 million for the quarter, compared to the consensus estimate of $151.82 million. Veeva Systems had a return on equity of 12.28% and a net margin of 15.86%. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. Analysts predict that Veeva Systems Inc. will post $0.83 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Veeva Systems (NYSE:VEEV)

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VEEV has been the subject of a number of research reports. Stifel Nicolaus reiterated a “buy” rating and set a $67.00 price objective (up from $60.00) on shares of Veeva Systems in a report on Sunday, May 21st. Morgan Stanley downgraded Veeva Systems from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $53.00 to $68.00 in a report on Monday, June 5th. They noted that the move was a valuation call. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price objective (up from $48.00) on shares of Veeva Systems in a report on Sunday, May 28th. Bank of America Corporation upgraded Veeva Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $48.00 to $70.00 in a report on Friday, May 26th. Finally, Citigroup Inc. increased their price objective on Veeva Systems from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, May 30th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $62.00.

A number of hedge funds have recently modified their holdings of VEEV. Russell Investments Group Ltd. bought a new stake in shares of Veeva Systems during the fourth quarter worth approximately $2,302,000. State Board of Administration of Florida Retirement System raised its stake in shares of Veeva Systems by 1.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 96,480 shares of the technology company’s stock worth $3,927,000 after buying an additional 1,205 shares in the last quarter. State Street Corp raised its stake in shares of Veeva Systems by 0.7% in the fourth quarter. State Street Corp now owns 1,169,917 shares of the technology company’s stock worth $47,620,000 after buying an additional 8,123 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Veeva Systems by 8.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,451 shares of the technology company’s stock worth $263,000 after buying an additional 495 shares in the last quarter. Finally, TCW Group Inc. bought a new stake in shares of Veeva Systems during the fourth quarter worth approximately $2,619,000. 80.62% of the stock is owned by hedge funds and other institutional investors.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “VEEV”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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