Veeva Systems Inc. (NYSE:VEEV) Director Timothy S. Cabral Sells 315 Shares

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction on 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 directly owns 5,500 shares of the company's stock, valued at $1,593,460. The trade was a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Veeva Systems Stock Down 2.3%

VEEV stock traded down $6.70 during trading on Thursday, hitting $281.85. 2,017,512 shares of the company's stock traded hands, compared to its average volume of 1,144,505. The firm has a market capitalization of $45.86 billion, a P/E ratio of 69.59, a PEG ratio of 1.89 and a beta of 0.99. Veeva Systems Inc. has a 1 year low of $176.41 and a 1 year high of $291.68. The business has a fifty day simple moving average of $239.45 and a two-hundred day simple moving average of $231.56.

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

Hedge Funds Weigh In On Veeva Systems

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after acquiring an additional 1,081,501 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Veeva Systems by 14.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,560 shares of the technology company's stock valued at $3,061,000 after acquiring an additional 1,892 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in Veeva Systems by 17.5% in the fourth quarter. Apollon Wealth Management LLC now owns 2,552 shares of the technology company's stock worth $537,000 after purchasing an additional 380 shares during the last quarter. Empowered Funds LLC increased its position in shares of Veeva Systems by 2.3% during the fourth quarter. Empowered Funds LLC now owns 4,265 shares of the technology company's stock worth $897,000 after purchasing an additional 95 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in shares of Veeva Systems by 66.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,109 shares of the technology company's stock worth $864,000 after purchasing an additional 1,634 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of recent analyst reports. UBS Group lifted their price target on shares of Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Truist Financial upped their target price on Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a research note on Thursday, May 29th. Needham & Company LLC raised their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Stephens restated an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Finally, Barclays 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 equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $269.80.

About Veeva Systems

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.