Veeva Systems Inc. (NYSE:VEEV) Director Sells $91,261.80 in Stock

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) Director Timothy S. Cabral sold 315 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the transaction, the director now owns 5,500 shares in the company, valued at $1,593,460. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Veeva Systems Price Performance

NYSE:VEEV traded down $2.50 during trading hours on Monday, reaching $282.86. 1,746,170 shares of the company were exchanged, compared to its average volume of 1,138,724. The business has a 50 day moving average of $235.57 and a 200 day moving average of $230.33. Veeva Systems Inc. has a 1-year low of $176.41 and a 1-year high of $291.68. The company has a market capitalization of $46.02 billion, a P/E ratio of 69.84, a P/E/G ratio of 1.89 and a beta of 0.99.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.74 by $0.23. Veeva Systems had a net margin of 25.07% and a return on equity of 13.56%. The firm had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same period last year, the firm earned $1.50 EPS. The business's quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of recent analyst reports. Raymond James boosted their price target on Veeva Systems from $285.00 to $310.00 and gave the stock an "outperform" rating in a research 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. Citigroup lifted their price objective on shares of Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Finally, Scotiabank increased their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Two equities 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. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus price target of $269.80.

Institutional Trading of Veeva Systems

Large investors have recently bought and sold shares of the business. Cardinal Capital Management grew its stake in shares of Veeva Systems by 0.3% during the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock worth $3,307,000 after buying an additional 44 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in shares of Veeva Systems by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock valued at $56,000 after acquiring an additional 44 shares in the last quarter. TFB Advisors LLC grew its position in Veeva Systems by 1.2% during the 1st quarter. TFB Advisors LLC now owns 3,586 shares of the technology company's stock worth $831,000 after acquiring an additional 44 shares during the last quarter. Marks Group Wealth Management Inc grew its position in Veeva Systems by 3.3% during the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company's stock worth $331,000 after acquiring an additional 46 shares during the last quarter. Finally, Colonial Trust Co SC raised its position in Veeva Systems by 30.3% in the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock valued at $51,000 after purchasing an additional 56 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

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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