Insider Selling: Veeva Systems Inc. (NYSE:VEEV) EVP Sells 3,391 Shares of Stock

Veeva Systems Inc. (NYSE:VEEV) EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Veeva Systems Price Performance

VEEV stock traded up $1.89 on Tuesday, reaching $200.95. 902,714 shares of the company traded hands, compared to its average volume of 981,032. Veeva Systems Inc. has a one year low of $160.21 and a one year high of $236.90. The company has a market cap of $32.42 billion, a P/E ratio of 62.41, a price-to-earnings-growth ratio of 2.00 and a beta of 0.74. The firm has a fifty day simple moving average of $220.53 and a 200-day simple moving average of $202.75.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The company had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. On average, sell-side analysts forecast that Veeva Systems Inc. will post 4.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on VEEV shares. The Goldman Sachs Group boosted their target price on Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Stifel Nicolaus upped their price target on Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Citigroup upped their price target on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new stake in shares of Veeva Systems in the 3rd quarter worth $25,000. Operose Advisors LLC bought a new stake in shares of Veeva Systems in the 3rd quarter worth $29,000. DSM Capital Partners LLC bought a new stake in shares of Veeva Systems in the 4th quarter worth $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Veeva Systems in the 4th quarter worth $32,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after purchasing an additional 77 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

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.