Jonathan Faddis Sells 720 Shares of Veeva Systems Inc. (NYSE:VEEV) Stock

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) SVP Jonathan Faddis sold 720 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the sale, the senior vice president directly owned 7,902 shares of the company's stock, valued at approximately $2,256,969.24. This represents a 8.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Veeva Systems Price Performance

Shares of VEEV traded down $5.82 during midday trading on Friday, hitting $275.82. The stock had a trading volume of 1,660,228 shares, compared to its average volume of 1,168,859. The firm has a market cap of $45.07 billion, a PE ratio of 58.44, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. Veeva Systems Inc. has a 1 year low of $177.41 and a 1 year high of $291.69. The stock's 50 day moving average is $265.32 and its 200 day moving average is $238.97.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The business had revenue of $759.04 million during the quarter, compared to analyst estimates of $728.38 million. During the same quarter in the previous year, the business earned $1.50 earnings per share. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Veeva Systems

Several large investors have recently added to or reduced their stakes in VEEV. Abound Financial LLC bought a new stake in shares of Veeva Systems in the first quarter valued at about $25,000. ORG Partners LLC purchased a new position in Veeva Systems during the 1st quarter valued at about $26,000. Golden State Wealth Management LLC increased its position in Veeva Systems by 152.9% during the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after purchasing an additional 78 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Veeva Systems in the 1st quarter valued at about $32,000. Finally, Key Financial Inc lifted its position in shares of Veeva Systems by 161.0% in the 1st quarter. Key Financial Inc now owns 154 shares of the technology company's stock worth $36,000 after purchasing an additional 95 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VEEV has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Wells Fargo & Company increased their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. UBS Group boosted their price target on Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, KeyCorp lowered their target price on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $271.04.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.