Priscilla Hung Sells 172 Shares of Veeva Systems Inc. (NYSE:VEEV) Stock

Veeva Systems Inc. (NYSE:VEEV) Director Priscilla Hung sold 172 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total value of $48,676.00. Following the completion of the transaction, the director directly owned 4,137 shares in the company, valued at approximately $1,170,771. This trade represents a 3.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Priscilla Hung also recently made the following trade(s):

• On Monday, July 7th, Priscilla Hung sold 171 shares of Veeva Systems stock. The stock was sold at an average price of $284.40, for a total value of $48,632.40.

Veeva Systems Price Performance

NYSE VEEV opened at $282.20 on Friday. The stock’s fifty day moving average price is $265.32 and its 200 day moving average price is $238.97. Veeva Systems Inc. has a 1 year low of $177.41 and a 1 year high of $291.69. The company has a market cap of $46.11 billion, a price-to-earnings ratio of 59.79, a PEG ratio of 2.25 and a beta of 0.98.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The firm had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. During the same period in the prior year, the firm earned $1.50 EPS. The firm’s revenue was up 16.7% on a year-over-year basis. Research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Hedge Funds Weigh In On Veeva Systems

Hedge funds have recently made changes to their positions in the company. Johnson Financial Group Inc. grew its position in Veeva Systems by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company’s stock worth $56,000 after purchasing an additional 44 shares during the period. TFB Advisors LLC grew its position in shares of Veeva Systems by 1.2% during the 1st quarter. TFB Advisors LLC now owns 3,586 shares of the technology company’s stock valued at $831,000 after acquiring an additional 44 shares during the period. Triangle Securities Wealth Management grew its position in shares of Veeva Systems by 0.8% during the 2nd quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company’s stock valued at $1,665,000 after acquiring an additional 45 shares during the period. Marks Group Wealth Management Inc grew its position in shares of Veeva Systems by 3.3% during the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company’s stock valued at $331,000 after acquiring an additional 46 shares during the period. Finally, Colonial Trust Co SC grew its position in shares of Veeva Systems by 30.3% during the 4th quarter. Colonial Trust Co SC now owns 241 shares of the technology company’s stock valued at $51,000 after acquiring an additional 56 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of analyst reports. Wells Fargo & Company upped their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Mizuho upped their target price on Veeva Systems from $280.00 to $295.00 and gave the stock an “outperform” rating in a report on Monday, June 2nd. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, May 30th. UBS Group upped their target price on Veeva Systems from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. Finally, Barclays upped their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $271.04.

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.