Insider Selling: Veeva Systems Inc (VEEV) Director Sells 1,108 Shares of Stock

Veeva Systems Inc (NYSE:VEEV) Director Paul J. Sekhri sold 1,108 shares of the business’s stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $75.46, for a total transaction of $83,609.68. Following the completion of the sale, the director now directly owns 13,046 shares in the company, valued at approximately $984,451.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of VEEV stock traded down $0.78 during trading hours on Friday, reaching $74.30. 1,099,217 shares of the company traded hands, compared to its average volume of 1,657,556. The stock has a market capitalization of $10,612.03, a PE ratio of 79.89, a P/E/G ratio of 4.52 and a beta of 1.46. Veeva Systems Inc has a 12 month low of $48.56 and a 12 month high of $78.28.

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Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Tuesday, February 27th. The technology company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $184.92 million during the quarter, compared to analysts’ expectations of $180.13 million. Veeva Systems had a net margin of 20.71% and a return on equity of 12.30%. analysts anticipate that Veeva Systems Inc will post 0.98 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in VEEV. Cerebellum GP LLC purchased a new position in Veeva Systems in the 4th quarter worth approximately $129,000. American International Group Inc. purchased a new position in Veeva Systems in the 4th quarter worth approximately $142,000. Northwestern Mutual Wealth Management Co. grew its stake in Veeva Systems by 154.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,176 shares of the technology company’s stock worth $176,000 after buying an additional 1,927 shares in the last quarter. Van Hulzen Asset Management LLC purchased a new position in Veeva Systems in the 3rd quarter worth approximately $204,000. Finally, HL Financial Services LLC purchased a new position in Veeva Systems in the 4th quarter worth approximately $210,000. 73.09% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently issued reports on VEEV shares. Morgan Stanley raised shares of Veeva Systems from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 30th. William Blair reissued an “outperform” rating on shares of Veeva Systems in a research report on Wednesday, February 21st. KeyCorp reissued an “overweight” rating and issued a $81.00 price target (up previously from $70.00) on shares of Veeva Systems in a research report on Friday, March 2nd. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $89.00 price target on the stock in a research report on Wednesday, March 7th. Finally, Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $67.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $72.23.

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Veeva Systems Company Profile

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.

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

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