Veeva Systems Inc (VEEV) Director Sells $114,140.00 in Stock

Veeva Systems Inc (NYSE:VEEV) Director Ronald E. F. Codd sold 2,000 shares of Veeva Systems stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $57.07, for a total value of $114,140.00. Following the completion of the sale, the director now owns 9,978 shares of the company’s stock, valued at approximately $569,444.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Veeva Systems Inc (NYSE:VEEV) opened at $58.37 on Tuesday. Veeva Systems Inc has a 52-week low of $41.30 and a 52-week high of $68.07. The stock has a market capitalization of $8,250.19, a P/E ratio of 67.87, a price-to-earnings-growth ratio of 4.74 and a beta of 1.60.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.09. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The company had revenue of $176.10 million for the quarter, compared to analyst estimates of $171.99 million. During the same period in the prior year, the company posted $0.22 EPS. Veeva Systems’s quarterly revenue was up 23.3% on a year-over-year basis. research analysts predict that Veeva Systems Inc will post 0.68 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. ETF Managers Group LLC bought a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $101,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $102,000. C M Bidwell & Associates Ltd. increased its holdings in shares of Veeva Systems by 460.0% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,800 shares of the technology company’s stock valued at $172,000 after acquiring an additional 2,300 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Veeva Systems by 77.2% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,952 shares of the technology company’s stock valued at $181,000 after acquiring an additional 1,286 shares during the last quarter. Finally, 1st Global Advisors Inc. bought a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $200,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Several research firms have recently weighed in on VEEV. Needham & Company LLC reaffirmed a “buy” rating on shares of Veeva Systems in a research note on Thursday, October 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Veeva Systems in a research note on Friday, October 13th. Canaccord Genuity reissued a “buy” rating and set a $70.00 price target on shares of Veeva Systems in a research report on Wednesday, December 6th. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Wednesday, October 11th. Finally, BidaskClub raised Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 20th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $67.45.

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About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

Insider Buying and Selling by Quarter for Veeva Systems (NYSE:VEEV)

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