Insider Selling: Veeva Systems Inc. (NYSE:VEEV) CAO Sells $15,160.86 in Stock

Veeva Systems Inc. (NYSE:VEEV) CAO Michele O’connor sold 57 shares of the business’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $265.98, for a total transaction of $15,160.86. Following the sale, the chief accounting officer now owns 225 shares of the company’s stock, valued at approximately $59,845.50. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Shares of VEEV opened at $260.38 on Thursday. The business’s 50-day moving average price is $270.06 and its 200-day moving average price is $279.14. Veeva Systems Inc. has a twelve month low of $152.24 and a twelve month high of $325.54. The stock has a market cap of $39.44 billion, a PE ratio of 121.67, a P/E/G ratio of 9.41 and a beta of 0.84.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Monday, March 1st. The technology company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.10. Veeva Systems had a return on equity of 15.73% and a net margin of 24.88%. The firm had revenue of $396.80 million for the quarter, compared to analysts’ expectations of $380.20 million. During the same period in the prior year, the business posted $0.54 earnings per share. The company’s revenue was up 27.4% on a year-over-year basis. Equities analysts expect that Veeva Systems Inc. will post 1.95 earnings per share for the current year.

VEEV has been the subject of a number of recent research reports. SVB Leerink boosted their price target on shares of Veeva Systems from $282.00 to $294.00 and gave the company a “market perform” rating in a research note on Tuesday, March 9th. DA Davidson lifted their price objective on shares of Veeva Systems from $325.00 to $350.00 in a report on Wednesday, March 3rd. Citigroup lifted their price objective on shares of Veeva Systems from $320.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, March 10th. Piper Sandler lifted their price objective on shares of Veeva Systems from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, March 9th. Finally, Truist lifted their price objective on shares of Veeva Systems from $320.00 to $355.00 in a report on Wednesday, March 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Veeva Systems has an average rating of “Buy” and a consensus price target of $299.04.

Several hedge funds have recently bought and sold shares of VEEV. Jackson Square Partners LLC bought a new position in shares of Veeva Systems in the fourth quarter worth approximately $407,141,000. Norges Bank bought a new position in shares of Veeva Systems in the fourth quarter worth approximately $360,803,000. Morgan Stanley increased its position in shares of Veeva Systems by 3.9% in the fourth quarter. Morgan Stanley now owns 15,184,744 shares of the technology company’s stock worth $4,134,047,000 after purchasing an additional 573,773 shares during the last quarter. Swedbank bought a new position in shares of Veeva Systems in the fourth quarter worth approximately $145,076,000. Finally, AQR Capital Management LLC increased its position in shares of Veeva Systems by 159.2% in the third quarter. AQR Capital Management LLC now owns 306,704 shares of the technology company’s stock worth $86,227,000 after purchasing an additional 188,380 shares during the last quarter. Institutional investors own 77.54% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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