Veeva Systems Inc (NYSE:VEEV) CFO Timothy S. Cabral sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $156.29, for a total value of $3,516,525.00. Following the transaction, the chief financial officer now directly owns 23,089 shares in the company, valued at $3,608,579.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NYSE VEEV traded up $2.91 on Thursday, reaching $159.42. The company had a trading volume of 918,857 shares, compared to its average volume of 1,374,488. The stock has a market capitalization of $23.24 billion, a P/E ratio of 128.56, a P/E/G ratio of 5.11 and a beta of 1.32. The company’s fifty day moving average is $162.74 and its 200 day moving average is $146.80. Veeva Systems Inc has a 52-week low of $79.26 and a 52-week high of $176.90. The company has a quick ratio of 3.73, a current ratio of 3.73 and a debt-to-equity ratio of 0.01.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Tuesday, August 27th. The technology company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $266.90 million during the quarter, compared to analyst estimates of $259.35 million. Veeva Systems had a return on equity of 18.87% and a net margin of 29.72%. Veeva Systems’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. On average, research analysts expect that Veeva Systems Inc will post 1.62 EPS for the current year.
A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Veeva Systems from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Needham & Company LLC upped their target price on Veeva Systems from $150.00 to $187.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley lowered Veeva Systems from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $126.00 to $144.00 in a research report on Friday, May 24th. Canaccord Genuity upped their target price on Veeva Systems from $135.00 to $155.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Stephens upped their target price on Veeva Systems from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $167.06.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atria Investments LLC purchased a new stake in shares of Veeva Systems during the 2nd quarter valued at $302,000. Treasurer of the State of North Carolina grew its stake in shares of Veeva Systems by 2.8% during the 2nd quarter. Treasurer of the State of North Carolina now owns 51,138 shares of the technology company’s stock worth $8,290,000 after acquiring an additional 1,400 shares during the period. BlackRock Inc. grew its stake in shares of Veeva Systems by 16.3% during the 2nd quarter. BlackRock Inc. now owns 8,770,784 shares of the technology company’s stock worth $1,421,833,000 after acquiring an additional 1,231,904 shares during the period. Natixis bought a new position in shares of Veeva Systems during the 2nd quarter worth $45,525,000. Finally, Barings LLC bought a new position in shares of Veeva Systems during the 2nd quarter worth $1,649,000. 75.99% of the stock is owned by institutional investors and hedge funds.
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, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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