Veeva Systems (NYSE:VEEV) President Matthew J. Wallach sold 12,000 shares of the stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $74.86, for a total transaction of $898,320.00. Following the completion of the sale, the president now owns 12,000 shares of the company’s stock, valued at approximately $898,320. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Veeva Systems stock opened at $72.85 on Friday. Veeva Systems has a 1-year low of $51.63 and a 1-year high of $78.28. The company has a market capitalization of $10,539.95, a PE ratio of 79.18, a PEG ratio of 4.48 and a beta of 1.39.
Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. Veeva Systems had a net margin of 20.71% and a return on equity of 11.89%. The business had revenue of $184.92 million during the quarter, compared to analysts’ expectations of $180.13 million. sell-side analysts forecast that Veeva Systems will post 0.98 earnings per share for the current year.
A number of research firms have commented on VEEV. Vetr upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating and set a $61.05 price objective for the company in a report on Thursday, February 8th. DA Davidson began coverage on shares of Veeva Systems in a report on Friday, February 2nd. They issued a “buy” rating and a $75.00 price objective for the company. Zacks Investment Research downgraded shares of Veeva Systems from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. JPMorgan Chase downgraded shares of Veeva Systems from an “overweight” rating to a “neutral” rating in a report on Friday, March 9th. Finally, Canaccord Genuity increased their price objective on shares of Veeva Systems from $70.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Four investment 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 stock. Veeva Systems has a consensus rating of “Buy” and an average price target of $72.23.
Large investors have recently bought and sold shares of the stock. Cerebellum GP LLC purchased a new position in shares of Veeva Systems during the 4th quarter worth approximately $129,000. American International Group Inc. purchased a new position in shares of Veeva Systems during the 4th quarter worth approximately $142,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Veeva Systems by 154.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,176 shares of the technology company’s stock worth $176,000 after purchasing an additional 1,927 shares during the period. HL Financial Services LLC purchased a new position in shares of Veeva Systems during the 4th quarter worth approximately $210,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Veeva Systems during the 4th quarter worth approximately $232,000. 73.11% of the stock is owned by hedge funds and other institutional investors.
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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, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.
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