Investors Buy Large Volume of Veeva Systems Call Options (NYSE:VEEV)

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) saw unusually large options trading activity on Thursday. Traders purchased 5,269 call options on the stock. This represents an increase of approximately 404% compared to the average volume of 1,045 call options.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,869 shares of company stock worth $1,284,917. 10.30% of the stock is currently owned by company insiders.

Institutional Trading of Veeva Systems

Several hedge funds have recently added to or reduced their stakes in VEEV. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems during the fourth quarter worth $25,000. Abound Financial LLC acquired a new stake in Veeva Systems during the first quarter worth approximately $25,000. ORG Partners LLC bought a new position in Veeva Systems during the 1st quarter worth $26,000. Smithfield Trust Co raised its holdings in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after acquiring an additional 80 shares in the last quarter. Finally, Avion Wealth raised its holdings in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after acquiring an additional 127 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Up 0.4%

Shares of VEEV traded up $0.99 during midday trading on Friday, reaching $280.03. The stock had a trading volume of 3,578,987 shares, compared to its average volume of 1,147,282. The firm has a 50 day simple moving average of $230.48 and a 200-day simple moving average of $227.86. The firm has a market cap of $45.56 billion, a PE ratio of 69.14, a P/E/G ratio of 1.89 and a beta of 0.96. Veeva Systems has a one year low of $170.25 and a one year high of $285.70.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Morgan Stanley lifted their price objective on Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a research report on Thursday. Piper Sandler increased their price target on Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a research note on Thursday. Stifel Nicolaus lifted their price objective on Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a research note on Thursday. Needham & Company LLC increased their target price on Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.00.

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.