Insider Selling: Veeva Systems Inc. (NYSE:VEEV) Director Sells 5,000 Shares of Stock

Veeva Systems Inc. (NYSE:VEEV) Director Matthew J. Wallach sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $295.10, for a total value of $1,475,500.00. Following the transaction, the director now directly owns 6,311 shares in the company, valued at $1,862,376.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NYSE:VEEV traded up $4.34 on Thursday, hitting $294.98. The company’s stock had a trading volume of 581,971 shares, compared to its average volume of 904,746. The firm’s 50-day moving average price is $270.13. Veeva Systems Inc. has a 1 year low of $210.75 and a 1 year high of $325.54. The stock has a market cap of $44.90 billion, a P/E ratio of 123.15, a PEG ratio of 8.26 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, May 26th. The technology company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.13. The firm had revenue of $433.57 million for the quarter, compared to analysts’ expectations of $410.07 million. Veeva Systems had a return on equity of 16.09% and a net margin of 25.94%. The company’s revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. On average, research analysts anticipate that Veeva Systems Inc. will post 2.2 EPS for the current year.

Several equities research analysts recently issued reports on the company. Needham & Company LLC upped their price target on Veeva Systems from $327.00 to $336.00 and gave the stock a “buy” rating in a report on Wednesday, March 3rd. Citigroup upped their price target on Veeva Systems from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, May 28th. Zacks Investment Research downgraded Veeva Systems from a “buy” rating to a “hold” rating and set a $277.00 price objective for the company. in a research note on Thursday, May 20th. KeyCorp upped their price objective on Veeva Systems from $332.00 to $353.00 and gave the company an “overweight” rating in a research note on Wednesday, February 17th. Finally, Morgan Stanley upped their price objective on Veeva Systems from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, May 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $311.65.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley raised its holdings in shares of Veeva Systems by 3.9% during the 4th quarter. Morgan Stanley now owns 15,184,744 shares of the technology company’s stock valued at $4,134,047,000 after buying an additional 573,773 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Veeva Systems by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,358,412 shares of the technology company’s stock valued at $2,706,032,000 after buying an additional 612,811 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Veeva Systems by 17.8% during the 1st quarter. BlackRock Inc. now owns 9,122,905 shares of the technology company’s stock valued at $2,383,267,000 after buying an additional 1,377,015 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Veeva Systems by 7.2% during the 1st quarter. Artisan Partners Limited Partnership now owns 6,344,787 shares of the technology company’s stock valued at $1,657,512,000 after buying an additional 424,658 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Veeva Systems by 4.8% during the 1st quarter. Franklin Resources Inc. now owns 3,067,016 shares of the technology company’s stock valued at $801,227,000 after buying an additional 139,672 shares in the last quarter. 77.55% of the stock is currently owned by institutional investors.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva Andi, Veeva OpenData, Veeva Link, Veeva Network Customer Master, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Doctors; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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

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