Veeva Systems Inc. (NYSE:VEEV) Director Sells $1,893,100.00 in Stock

Veeva Systems Inc. (NYSE:VEEVGet Rating) Director Timothy S. Cabral sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $189.31, for a total value of $1,893,100.00. Following the completion of the sale, the director now owns 118,114 shares of the company’s stock, valued at approximately $22,360,161.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

VEEV traded down $0.61 during mid-day trading on Wednesday, reaching $191.45. The stock had a trading volume of 929,250 shares, compared to its average volume of 1,113,553. The stock has a market capitalization of $29.55 billion, a P/E ratio of 74.85, a P/E/G ratio of 3.98 and a beta of 0.86. The firm’s fifty day simple moving average is $182.96 and its two-hundred day simple moving average is $215.78. Veeva Systems Inc. has a 52 week low of $152.04 and a 52 week high of $343.96.

Veeva Systems (NYSE:VEEVGet Rating) last announced its quarterly earnings data on Wednesday, June 1st. The technology company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. The firm had revenue of $505.10 million for the quarter, compared to analyst estimates of $495.88 million. Veeva Systems had a return on equity of 14.60% and a net margin of 21.43%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS. On average, equities analysts expect that Veeva Systems Inc. will post 2.76 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Tyler Stone Wealth Management bought a new position in shares of Veeva Systems in the 4th quarter worth $28,000. Ten Capital Wealth Advisors LLC bought a new position in shares of Veeva Systems in the 4th quarter worth $29,000. Amplius Wealth Advisors LLC bought a new position in shares of Veeva Systems in the 4th quarter worth $31,000. Liberty Wealth Management LLC boosted its position in shares of Veeva Systems by 312.9% in the 3rd quarter. Liberty Wealth Management LLC now owns 128 shares of the technology company’s stock worth $38,000 after purchasing an additional 97 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. bought a new position in shares of Veeva Systems in the 1st quarter worth $28,000.

A number of brokerages have commented on VEEV. Bank of America downgraded Veeva Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $300.00 to $220.00 in a research report on Thursday, March 3rd. Canaccord Genuity Group dropped their target price on Veeva Systems from $300.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, June 2nd. Truist Financial dropped their target price on Veeva Systems from $275.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, June 2nd. SVB Leerink reissued a “buy” rating and issued a $268.00 target price on shares of Veeva Systems in a report on Monday, March 14th. Finally, JMP Securities dropped their target price on Veeva Systems from $265.00 to $240.00 and set a “market outperform” rating for the company in a report on Thursday, June 2nd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Buy” and an average target price of $261.28.

Veeva Systems Company Profile (Get Rating)

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 software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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