Veeva Systems Inc. (NYSE:VEEV) Director Sells $48,632.40 in Stock

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) Director Priscilla Hung sold 171 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $284.40, for a total value of $48,632.40. Following the transaction, the director directly owned 3,966 shares in the company, valued at $1,127,930.40. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, July 3rd, Priscilla Hung sold 172 shares of Veeva Systems stock. The shares were sold at an average price of $283.00, for a total value of $48,676.00.

Veeva Systems Stock Down 0.1%

VEEV traded down $0.22 during midday trading on Thursday, hitting $284.14. 537,826 shares of the company were exchanged, compared to its average volume of 1,163,784. The firm's 50 day moving average price is $264.32 and its 200-day moving average price is $238.57. Veeva Systems Inc. has a 1-year low of $177.41 and a 1-year high of $291.69. The firm has a market capitalization of $46.43 billion, a P/E ratio of 60.22, a P/E/G ratio of 2.22 and a beta of 0.98.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, topping 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 firm had revenue of $759.04 million during the quarter, compared to analyst estimates of $728.38 million. During the same period last year, the company posted $1.50 EPS. The business's quarterly revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler raised their price objective on Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Truist Financial increased their target price on Veeva Systems from $217.00 to $230.00 and gave the stock a "hold" rating in a research note on Thursday, May 29th. Finally, 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 note on Thursday, May 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $271.04.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Veeva Systems by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company's stock valued at $3,418,990,000 after buying an additional 315,421 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Veeva Systems by 10.7% in the first quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company's stock valued at $1,273,884,000 after purchasing an additional 532,269 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Veeva Systems by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company's stock worth $1,205,372,000 after acquiring an additional 34,169 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Veeva Systems by 20.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company's stock worth $924,754,000 after acquiring an additional 689,700 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new stake in shares of Veeva Systems in the fourth quarter worth $685,355,000. 88.20% of the stock is owned by institutional investors.

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.