Veeva Systems Inc. (NYSE:VEEV) Director Priscilla Hung Sells 172 Shares

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) Director Priscilla Hung sold 172 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total transaction of $48,676.00. Following the completion of the transaction, the director owned 4,137 shares in the company, valued at approximately $1,170,771. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, July 7th, Priscilla Hung sold 171 shares of Veeva Systems stock. The shares were sold at an average price of $284.40, for a total transaction of $48,632.40.

Veeva Systems Stock Down 0.2%

VEEV traded down $0.52 during trading hours on Tuesday, hitting $280.48. 1,938,946 shares of the company's stock were exchanged, compared to its average volume of 1,164,351. 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 $262.33 and its two-hundred day moving average is $237.96. The stock has a market cap of $45.83 billion, a price-to-earnings ratio of 59.42, a PEG ratio of 2.25 and a beta of 0.98.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its holdings in Veeva Systems by 4.7% during the second quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company's stock worth $356,000 after purchasing an additional 56 shares during the last quarter. Trust Co. of Oklahoma bought a new stake in Veeva Systems during the second quarter worth $217,000. Capital Asset Advisory Services LLC raised its position in Veeva Systems by 6.1% during the second quarter. Capital Asset Advisory Services LLC now owns 1,358 shares of the technology company's stock worth $384,000 after acquiring an additional 78 shares in the last quarter. OMNI 360 Wealth Inc. bought a new stake in Veeva Systems during the second quarter worth $332,000. Finally, Centurion Wealth Management LLC raised its position in Veeva Systems by 5.7% during the second quarter. Centurion Wealth Management LLC now owns 1,383 shares of the technology company's stock worth $398,000 after acquiring an additional 74 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Piper Sandler boosted their price target on shares of Veeva Systems from $255.00 to $325.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Stifel Nicolaus upped their target price on shares of Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Raymond James Financial upped their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Finally, UBS Group upped their target price on shares of Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $269.80.

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.

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