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

Key Points

• Veeva director Priscilla Hung sold 750 shares on April 30 at an average price of $155.64 for $116,730 (and previously sold 750 shares on April 10 at $153.50); the trades were executed under a pre‑arranged Rule 10b5‑1 plan and reduced her ownership by 18.74% to 3,253 shares.
• Veeva beat quarterly expectations (Q1 EPS $2.06 vs. $1.94 and revenue $835.95M vs. $810.95M, revenue +16% YoY) and its board authorized a $2.0 billion share repurchase program (up to ~5.5% of outstanding shares).
• The stock trades with a market cap around $27.8B and a consensus analyst rating of "Moderate Buy" with a $278.70 average price target, amid mixed analyst actions including several price-target cuts and one sell initiation.

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) Director Priscilla Hung sold 750 shares of the business's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $155.64, for a total transaction of $116,730.00. Following the completion of the transaction, the director owned 3,253 shares in the company, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Priscilla Hung also recently made the following trade(s):

• On Friday, April 10th, Priscilla Hung sold 750 shares of Veeva Systems stock. The shares were sold at an average price of $153.50, for a total transaction of $115,125.00.

Veeva Systems Stock Performance

Shares of Veeva Systems stock traded down $1.13 on Monday, reaching $170.47. The company had a trading volume of 4,195,358 shares, compared to its average volume of 2,257,745. The firm's 50 day moving average price is $174.70 and its two-hundred day moving average price is $216.26. The firm has a market cap of $27.84 billion, a PE ratio of 31.51, a PEG ratio of 0.77 and a beta of 0.93. Veeva Systems Inc. has a 52-week low of $148.05 and a 52-week high of $310.50.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.12. The business had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 13.80%. The business's revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.74 EPS. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, sell-side analysts predict that Veeva Systems Inc. will post 6.41 EPS for the current year.

Veeva Systems announced that its board has initiated a share repurchase plan on Monday, January 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On Veeva Systems

Several large investors have recently added to or reduced their stakes in VEEV. Vanguard Group Inc. increased its position in shares of Veeva Systems by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company's stock valued at $4,596,522,000 after purchasing an additional 457,806 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Veeva Systems by 4.1% in the 3rd quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company's stock valued at $1,770,071,000 after purchasing an additional 235,983 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Veeva Systems by 7.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company's stock valued at $727,513,000 after purchasing an additional 271,252 shares during the last quarter. State Street Corp increased its position in shares of Veeva Systems by 2.4% in the 4th quarter. State Street Corp now owns 3,589,425 shares of the technology company's stock valued at $801,267,000 after purchasing an additional 85,695 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Veeva Systems by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,476,258 shares of the technology company's stock valued at $1,035,622,000 after purchasing an additional 159,984 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Oppenheimer reduced their price target on shares of Veeva Systems from $325.00 to $275.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 24th. Wells Fargo & Company cut their target price on shares of Veeva Systems from $333.00 to $317.00 and set an "overweight" rating on the stock in a research note on Thursday, March 5th. Wall Street Zen downgraded shares of Veeva Systems from a "buy" rating to a "hold" rating in a research note on Sunday, March 22nd. TD Cowen cut their target price on shares of Veeva Systems from $380.00 to $300.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Finally, The Goldman Sachs Group initiated coverage on shares of Veeva Systems in a research note on Tuesday, January 13th. They set a "sell" rating and a $215.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $278.70.

About Veeva Systems

Veeva Systems NYSE: VEEV is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva's product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.

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