Matthew J. Wallach Sells 12,000 Shares of Veeva Systems (VEEV) Stock

Veeva Systems (NYSE:VEEV) President Matthew J. Wallach sold 12,000 shares of the business’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $77.63, for a total value of $931,560.00. Following the completion of the transaction, the president now directly owns 12,000 shares of the company’s stock, valued at $931,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NYSE:VEEV opened at $76.15 on Friday. Veeva Systems has a 52 week low of $75.41 and a 52 week high of $77.02. The firm has a market capitalization of $10.70 billion, a PE ratio of 82.77, a price-to-earnings-growth ratio of 4.55 and a beta of 1.40.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. Veeva Systems had a return on equity of 11.89% and a net margin of 20.71%. The firm had revenue of $184.92 million during the quarter, compared to the consensus estimate of $180.13 million. analysts expect that Veeva Systems will post 0.98 EPS for the current year.

A number of hedge funds have recently bought and sold shares of VEEV. Dimensional Fund Advisors LP grew its position in Veeva Systems by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 295,438 shares of the technology company’s stock valued at $16,666,000 after acquiring an additional 3,530 shares during the period. Strategic Advisors LLC purchased a new stake in Veeva Systems during the fourth quarter valued at about $292,000. Bank of Montreal Can grew its position in Veeva Systems by 5.9% during the fourth quarter. Bank of Montreal Can now owns 54,355 shares of the technology company’s stock valued at $3,005,000 after acquiring an additional 3,031 shares during the period. Wasatch Advisors Inc. purchased a new stake in Veeva Systems during the fourth quarter valued at about $1,914,000. Finally, CrestPoint Capital Management LLC grew its position in Veeva Systems by 70.5% during the fourth quarter. CrestPoint Capital Management LLC now owns 16,200 shares of the technology company’s stock valued at $896,000 after acquiring an additional 6,700 shares during the period. 73.84% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on VEEV shares. Canaccord Genuity boosted their price target on Veeva Systems from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Stifel Nicolaus lifted their price objective on Veeva Systems from $67.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. DA Davidson initiated coverage on Veeva Systems in a research report on Friday, February 2nd. They issued a “buy” rating and a $75.00 price objective for the company. ValuEngine raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Vetr downgraded Veeva Systems from a “buy” rating to a “hold” rating and set a $61.05 price objective for the company. in a research report on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.23.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.

Insider Buying and Selling by Quarter for Veeva Systems (NYSE:VEEV)

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