Veeva Systems Inc (NYSE:VEEV) Director Paul J. Sekhri sold 1,107 shares of the stock in a transaction that occurred on Monday, June 25th. The shares were sold at an average price of $82.80, for a total transaction of $91,659.60. Following the sale, the director now directly owns 11,432 shares of the company’s stock, valued at approximately $946,569.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Veeva Systems traded down $0.21, hitting $75.16, during trading hours on Thursday, Marketbeat.com reports. 43,370 shares of the company traded hands, compared to its average volume of 1,309,742. Veeva Systems Inc has a one year low of $52.17 and a one year high of $85.00. The stock has a market cap of $11.26 billion, a PE ratio of 81.28, a price-to-earnings-growth ratio of 4.35 and a beta of 1.42.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, May 24th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. Veeva Systems had a return on equity of 12.47% and a net margin of 20.78%. The business had revenue of $195.55 million for the quarter, compared to analysts’ expectations of $188.92 million. During the same period last year, the business earned $0.24 EPS. The business’s revenue was up 22.4% on a year-over-year basis. equities research analysts forecast that Veeva Systems Inc will post 1.02 earnings per share for the current year.
Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Veeva Systems from $78.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday. SunTrust Banks assumed coverage on shares of Veeva Systems in a research report on Monday. They set a “buy” rating and a $100.00 price objective for the company. Zacks Investment Research cut Veeva Systems from a “buy” rating to a “hold” rating in a report on Friday, June 1st. Deutsche Bank increased their target price on Veeva Systems from $55.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, May 25th. Finally, Needham & Company LLC increased their target price on Veeva Systems to $90.00 and gave the stock a “buy” rating in a report on Friday, May 25th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Veeva Systems has a consensus rating of “Buy” and an average price target of $79.34.
A number of large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd lifted its stake in Veeva Systems by 5.5% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 12,201 shares of the technology company’s stock valued at $891,000 after acquiring an additional 634 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Veeva Systems by 4.0% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 18,011 shares of the technology company’s stock worth $1,315,000 after purchasing an additional 700 shares during the period. Aperio Group LLC raised its stake in shares of Veeva Systems by 5.5% during the 1st quarter. Aperio Group LLC now owns 14,182 shares of the technology company’s stock worth $1,036,000 after purchasing an additional 733 shares during the period. Mark Sheptoff Financial Planning LLC raised its stake in shares of Veeva Systems by 3.0% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 26,100 shares of the technology company’s stock worth $1,906,000 after purchasing an additional 750 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of Veeva Systems by 26.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,975 shares of the technology company’s stock worth $290,000 after purchasing an additional 825 shares during the period. Institutional investors and hedge funds own 72.92% of the company’s stock.
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, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.
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