Insider Selling: Veeva Systems (NYSE:VEEV) Director Sells 750 Shares of Stock

Veeva Systems Inc. (NYSE:VEEV) Director Priscilla Hung sold 750 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the sale, the director directly owned 3,253 shares in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 Stock Performance

Shares of NYSE:VEEV traded down $1.13 during trading hours on Monday, reaching $170.47. The stock had a trading volume of 4,195,358 shares, compared to its average volume of 2,257,745. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The firm’s 50 day moving average is $174.70 and its 200-day moving average is $216.26. The stock has a market capitalization of $27.84 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 0.77 and a beta of 0.93.

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

Veeva Systems declared that its board has approved a share buyback plan on Monday, January 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Veeva Systems

Large investors have recently bought and sold shares of the business. Jensen Investment Management Inc. lifted its stake in shares of Veeva Systems by 1,924.5% in the 3rd quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock worth $123,100,000 after acquiring an additional 392,802 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Veeva Systems in the 3rd quarter worth $422,241,000. Principal Financial Group Inc. lifted its stake in shares of Veeva Systems by 11.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock worth $1,146,040,000 after acquiring an additional 388,864 shares during the period. Compass Wealth Management LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter worth $18,694,000. Finally, ABN AMRO Bank N.V. acquired a new stake in shares of Veeva Systems in the 3rd quarter worth $246,625,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Royal Bank Of Canada dropped their target price on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Truist Financial reaffirmed a “buy” rating and issued a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Barclays dropped their target price on shares of Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Finally, Piper Sandler dropped their target price on shares of Veeva Systems from $355.00 to $285.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. One 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 given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.70.

Veeva Systems Company Profile

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.