Veeva Systems Inc (VEEV) Director Paul J. Sekhri Sells 601 Shares of Stock

Veeva Systems Inc (NYSE:VEEV) Director Paul J. Sekhri sold 601 shares of the stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $103.67, for a total transaction of $62,305.67. Following the transaction, the director now directly owns 11,459 shares in the company, valued at approximately $1,187,954.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NYSE VEEV traded up $1.16 during mid-day trading on Thursday, reaching $105.62. 16,514 shares of the company traded hands, compared to its average volume of 1,200,611. Veeva Systems Inc has a fifty-two week low of $52.17 and a fifty-two week high of $107.77. The firm has a market capitalization of $14.97 billion, a PE ratio of 114.73, a P/E/G ratio of 4.93 and a beta of 1.54.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, August 23rd. The technology company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.05. The firm had revenue of $209.60 million during the quarter, compared to analysts’ expectations of $203.50 million. Veeva Systems had a net margin of 21.23% and a return on equity of 13.58%. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. analysts forecast that Veeva Systems Inc will post 1.1 EPS for the current year.

Several brokerages have recently commented on VEEV. Morgan Stanley increased their price target on shares of Veeva Systems from $78.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 27th. Canaccord Genuity increased their price objective on shares of Veeva Systems from $85.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Thursday, May 31st. KeyCorp reiterated a “buy” rating on shares of Veeva Systems in a research note on Thursday, August 23rd. Finally, SunTrust Banks started coverage on shares of Veeva Systems in a research note on Monday, June 25th. They set a “buy” rating and a $100.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $94.29.

Large investors have recently modified their holdings of the stock. We Are One Seven LLC boosted its holdings in Veeva Systems by 147.6% during the first quarter. We Are One Seven LLC now owns 1,679 shares of the technology company’s stock worth $123,000 after buying an additional 1,001 shares in the last quarter. Next Century Growth Investors LLC bought a new stake in Veeva Systems during the first quarter worth approximately $130,000. Flagship Harbor Advisors LLC bought a new stake in Veeva Systems during the second quarter worth approximately $149,000. Mutual of America Capital Management LLC bought a new stake in Veeva Systems during the second quarter worth approximately $169,000. Finally, Cerebellum GP LLC boosted its holdings in Veeva Systems by 1,645.0% during the second quarter. Cerebellum GP LLC now owns 2,251 shares of the technology company’s stock worth $173,000 after buying an additional 2,122 shares in the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.

About Veeva Systems

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

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