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.
Featured Story: Elliott Wave Theory
Receive News & Ratings for Veeva Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems and related companies with MarketBeat.com's FREE daily email newsletter.