Insider Selling: Veeva Systems Inc (NYSE:VEEV) EVP Sells $72,490.40 in Stock

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Veeva Systems Inc (NYSE:VEEV) EVP Alan Mateo sold 496 shares of Veeva Systems stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $146.15, for a total transaction of $72,490.40. Following the completion of the sale, the executive vice president now directly owns 16,566 shares of the company’s stock, valued at $2,421,120.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alan Mateo also recently made the following trade(s):

  • On Tuesday, September 3rd, Alan Mateo sold 4,026 shares of Veeva Systems stock. The shares were sold at an average price of $159.68, for a total transaction of $642,871.68.
  • On Thursday, August 1st, Alan Mateo sold 4,026 shares of Veeva Systems stock. The shares were sold at an average price of $165.52, for a total transaction of $666,383.52.
  • On Monday, July 22nd, Alan Mateo sold 883 shares of Veeva Systems stock. The shares were sold at an average price of $170.23, for a total transaction of $150,313.09.
  • On Monday, July 15th, Alan Mateo sold 867 shares of Veeva Systems stock. The shares were sold at an average price of $175.58, for a total transaction of $152,227.86.
  • On Monday, July 1st, Alan Mateo sold 4,026 shares of Veeva Systems stock. The shares were sold at an average price of $165.40, for a total transaction of $665,900.40.

NYSE:VEEV opened at $147.43 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.23 and a quick ratio of 4.23. The firm has a 50-day moving average of $157.30 and a 200-day moving average of $148.63. The company has a market cap of $21.72 billion, a PE ratio of 118.90, a PEG ratio of 4.72 and a beta of 1.32. Veeva Systems Inc has a one year low of $79.26 and a one year high of $176.90.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, August 27th. The technology company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. The company had revenue of $266.90 million during the quarter, compared to the consensus estimate of $259.35 million. Veeva Systems had a net margin of 29.72% and a return on equity of 18.10%. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, equities research analysts expect that Veeva Systems Inc will post 1.63 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of VEEV. Geode Capital Management LLC grew its position in Veeva Systems by 15.9% in the 4th quarter. Geode Capital Management LLC now owns 1,307,248 shares of the technology company’s stock worth $116,693,000 after purchasing an additional 179,262 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Veeva Systems by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 266,853 shares of the technology company’s stock worth $23,834,000 after purchasing an additional 4,441 shares in the last quarter. Comerica Bank grew its position in Veeva Systems by 40.8% in the 1st quarter. Comerica Bank now owns 7,708 shares of the technology company’s stock worth $1,048,000 after purchasing an additional 2,233 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in Veeva Systems in the 1st quarter worth about $772,000. Finally, Toronto Dominion Bank grew its position in Veeva Systems by 38.4% in the 1st quarter. Toronto Dominion Bank now owns 22,533 shares of the technology company’s stock worth $2,858,000 after purchasing an additional 6,251 shares in the last quarter. 77.05% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Veeva Systems in a research note on Friday, June 7th. They issued a “neutral” rating and a $151.00 price target for the company. Canaccord Genuity lifted their price target on shares of Veeva Systems from $135.00 to $155.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Guggenheim boosted their target price on shares of Veeva Systems from $154.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Bank of America boosted their target price on shares of Veeva Systems from $160.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Needham & Company LLC boosted their target price on shares of Veeva Systems from $150.00 to $187.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $167.06.

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, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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