Insider Selling: Veeva Systems Inc (NYSE:VEEV) CFO Sells 25,000 Shares of Stock

Veeva Systems Inc (NYSE:VEEV) CFO Timothy S. Cabral sold 25,000 shares of the stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $76.54, for a total transaction of $1,913,500.00. Following the sale, the chief financial officer now directly owns 25,000 shares in the company, valued at $1,913,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Veeva Systems stock traded down $1.90 during midday trading on Friday, hitting $70.92. 602,469 shares of the stock were exchanged, compared to its average volume of 1,130,004. The stock has a market cap of $10,024.05, a P/E ratio of 77.09, a PEG ratio of 4.27 and a beta of 1.39. Veeva Systems Inc has a fifty-two week low of $50.09 and a fifty-two week high of $78.28.

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Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, February 27th. The technology company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $184.92 million during the quarter, compared to analyst estimates of $180.13 million. Veeva Systems had a net margin of 20.71% and a return on equity of 11.89%. research analysts anticipate that Veeva Systems Inc will post 0.98 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund boosted its stake in shares of Veeva Systems by 2.2% in the third quarter. New York State Common Retirement Fund now owns 1,619,820 shares of the technology company’s stock valued at $91,374,000 after purchasing an additional 35,073 shares during the period. Fred Alger Management Inc. boosted its stake in shares of Veeva Systems by 9.1% in the fourth quarter. Fred Alger Management Inc. now owns 1,024,930 shares of the technology company’s stock valued at $56,658,000 after purchasing an additional 85,781 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Veeva Systems by 1.7% in the fourth quarter. OppenheimerFunds Inc. now owns 708,052 shares of the technology company’s stock valued at $39,141,000 after purchasing an additional 11,851 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Veeva Systems by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 638,077 shares of the technology company’s stock valued at $35,273,000 after purchasing an additional 4,568 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Veeva Systems by 80.7% in the fourth quarter. Renaissance Technologies LLC now owns 635,200 shares of the technology company’s stock valued at $35,114,000 after purchasing an additional 283,688 shares during the period. 73.09% of the stock is owned by institutional investors.

A number of equities analysts have weighed in on VEEV shares. Canaccord Genuity upped their price objective on shares of Veeva Systems from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. DA Davidson started coverage on shares of Veeva Systems in a research report on Friday, February 2nd. They set a “buy” rating and a $75.00 price objective for the company. ValuEngine upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Vetr cut shares of Veeva Systems from a “buy” rating to a “hold” rating and set a $61.05 price objective for the company. in a research report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Veeva Systems has an average rating of “Buy” and a consensus price target of $72.23.

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Veeva Systems Company Profile

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.

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

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