Insider Selling: Veeva Systems Inc (VEEV) Insider Sells 946 Shares of Stock

Veeva Systems Inc (NYSE:VEEV) insider Eleni Nitsa Zuppas sold 946 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $114.66, for a total transaction of $108,468.36. Following the completion of the sale, the insider now directly owns 11,738 shares of the company’s stock, valued at approximately $1,345,879.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

NYSE VEEV traded up $0.33 during trading hours on Thursday, reaching $113.78. The company had a trading volume of 1,236,990 shares, compared to its average volume of 1,405,002. Veeva Systems Inc has a 1-year low of $68.11 and a 1-year high of $124.00. The stock has a market capitalization of $16.48 billion, a P/E ratio of 91.76, a PEG ratio of 4.46 and a beta of 1.72.

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Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, February 26th. The technology company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. Veeva Systems had a net margin of 23.61% and a return on equity of 15.51%. The company had revenue of $232.32 million for the quarter, compared to analysts’ expectations of $227.15 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. Veeva Systems’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities research analysts anticipate that Veeva Systems Inc will post 1.54 EPS for the current fiscal year.

A number of equities research analysts recently issued reports on VEEV shares. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Saturday, February 9th. Bank of America reissued a “buy” rating and issued a $120.00 price objective (up previously from $110.00) on shares of Veeva Systems in a report on Thursday, November 29th. Needham & Company LLC reissued a “buy” rating and issued a $135.00 price objective (up previously from $110.00) on shares of Veeva Systems in a report on Wednesday, February 27th. DA Davidson upped their price objective on shares of Veeva Systems to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Finally, SunTrust Banks upped their price objective on shares of Veeva Systems to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $117.65.

Institutional investors and hedge funds have recently modified their holdings of the company. Ffcm LLC acquired a new stake in shares of Veeva Systems during the fourth quarter worth about $26,000. Bollard Group LLC acquired a new stake in shares of Veeva Systems during the fourth quarter worth about $27,000. Private Capital Group LLC lifted its position in shares of Veeva Systems by 508.6% during the fourth quarter. Private Capital Group LLC now owns 353 shares of the technology company’s stock worth $32,000 after purchasing an additional 295 shares in the last quarter. Executive Wealth Management LLC acquired a new stake in shares of Veeva Systems during the fourth quarter worth about $34,000. Finally, Valeo Financial Advisors LLC lifted its position in shares of Veeva Systems by 319.1% during the fourth quarter. Valeo Financial Advisors LLC now owns 394 shares of the technology company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

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About Veeva Systems

Veeva Systems, Inc engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

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