Insider Selling: Veeva Systems (NYSE:VEEV) Director Sells 750 Shares of Stock

Key Points

• Veeva Systems director Priscilla Hung sold 750 shares for approximately $195,780 at an average price of $261.04, reducing her direct stake by 18.79% to 3,242 shares.
• Veeva reported quarterly EPS of $2.35, exceeding estimates of $2.23, while revenue rose 17.6% year over year to $927.96 million.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $284.88; the stock recently traded near $262.30 and is 88.2% institutionally owned.

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) Director Priscilla Hung sold 750 shares of the business's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the sale, the director directly owned 3,242 shares of the company's stock, valued at approximately $846,291.68. The trade was a 18.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Veeva Systems Stock Performance

NYSE:VEEV traded up $1.32 during mid-day trading on Friday, reaching $262.30. 863,673 shares of the company's stock were exchanged, compared to its average volume of 2,429,278. Veeva Systems Inc. has a one year low of $148.05 and a one year high of $310.50. The firm has a market capitalization of $42.47 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 1.11 and a beta of 0.97. The business's fifty day simple moving average is $227.10 and its two-hundred day simple moving average is $190.44.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business had revenue of $927.96 million during the quarter, compared to analysts' expectations of $905.38 million. During the same quarter in the previous year, the company earned $1.99 EPS. The business's revenue was up 17.6% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. As a group, equities research analysts forecast that Veeva Systems Inc. will post 6.7 EPS for the current year.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent research reports. TD Cowen raised their price objective on Veeva Systems from $235.00 to $283.00 and gave the stock a "buy" rating in a research note on Monday, August 24th. Needham & Company LLC upped their target price on Veeva Systems from $270.00 to $310.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Guggenheim increased their target price on Veeva Systems from $276.00 to $310.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Citigroup raised their price target on Veeva Systems from $190.00 to $273.00 and gave the stock a "neutral" rating in a research report on Friday, August 28th. Finally, Morgan Stanley boosted their price target on Veeva Systems from $215.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $284.88.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in VEEV. SHP Wealth Management acquired a new position in shares of Veeva Systems during the 4th quarter worth $26,000. Compass Financial Management LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $27,000. Arlington Trust Co LLC bought a new stake in shares of Veeva Systems during the 2nd quarter valued at approximately $29,000. Field & Main Bank acquired a new position in Veeva Systems during the 2nd quarter worth approximately $29,000. Finally, MV Capital Management Inc. acquired a new position in Veeva Systems during the 4th quarter worth approximately $30,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.

The company's Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.

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