Veeva Systems Inc. (NYSE:VEEV) EVP Alan Mateo Sells 3,391 Shares

Veeva Systems Inc. (NYSE:VEEV) EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Veeva Systems Stock Up 0.9 %

NYSE:VEEV traded up $1.89 during mid-day trading on Tuesday, reaching $200.95. 902,714 shares of the company were exchanged, compared to its average volume of 981,032. Veeva Systems Inc. has a 12 month low of $160.21 and a 12 month high of $236.90. The company has a fifty day moving average of $220.53 and a 200 day moving average of $202.75. The stock has a market cap of $32.42 billion, a PE ratio of 62.41, a PEG ratio of 2.00 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The firm had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. On average, equities research analysts anticipate that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Robert W. Baird increased their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. The Goldman Sachs Group increased their price objective on shares of Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $234.90.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in shares of Veeva Systems by 9.6% in the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock valued at $674,499,000 after purchasing an additional 289,133 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Veeva Systems by 6.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,167,960 shares of the technology company’s stock valued at $417,376,000 after purchasing an additional 122,546 shares during the last quarter. FMR LLC boosted its stake in shares of Veeva Systems by 15.4% in the 3rd quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after purchasing an additional 244,599 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Veeva Systems by 22.6% in the 4th quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company’s stock valued at $341,736,000 after purchasing an additional 327,662 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $305,543,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.