Veeva Systems Inc. (NYSE:VEEV) Director Ronald E. F. Codd sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $56.45, for a total transaction of $169,350.00. Following the sale, the director now owns 9,275 shares of the company’s stock, valued at $523,573.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Veeva Systems Inc. (NYSE:VEEV) opened at 56.19 on Wednesday. The company has a 50 day moving average of $60.34 and a 200 day moving average of $57.80. Veeva Systems Inc. has a 52 week low of $36.55 and a 52 week high of $68.07. The company has a market cap of $7.90 billion, a PE ratio of 71.85 and a beta of 1.65.
Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, August 24th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $166.59 million for the quarter, compared to analysts’ expectations of $164.26 million. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The firm’s revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, analysts expect that Veeva Systems Inc. will post $0.87 EPS for the current year.
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Several equities research analysts have issued reports on the stock. JMP Securities restated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a research report on Saturday, August 26th. Bank of America Corporation upgraded shares of Veeva Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $48.00 to $70.00 in a research report on Friday, May 26th. Morgan Stanley downgraded shares of Veeva Systems from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $53.00 to $68.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Deutsche Bank AG reiterated a “hold” rating and issued a $55.00 price target on shares of Veeva Systems in a research report on Tuesday, May 30th. Finally, BidaskClub downgraded shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $64.77.
A number of large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in Veeva Systems by 137.8% in the 1st quarter. Russell Investments Group Ltd. now owns 133,267 shares of the technology company’s stock worth $6,834,000 after acquiring an additional 77,220 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Veeva Systems by 22.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 10,340 shares of the technology company’s stock worth $529,000 after acquiring an additional 1,900 shares during the last quarter. American Century Companies Inc. bought a new stake in Veeva Systems in the 1st quarter worth $7,553,000. Bank of New York Mellon Corp grew its holdings in Veeva Systems by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 510,450 shares of the technology company’s stock worth $26,177,000 after acquiring an additional 27,282 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Veeva Systems by 135.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,809 shares of the technology company’s stock worth $195,000 after acquiring an additional 2,192 shares during the last quarter. Institutional investors own 71.46% of the company’s stock.
About Veeva Systems
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.
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