Veeva Systems Inc. (NYSE:VEEV) EVP Sells $681,116.26 in Stock

Veeva Systems Inc. (NYSE:VEEV) EVP Alan Mateo sold 3,391 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $199.10 on Friday. Veeva Systems Inc. has a 1 year low of $160.21 and a 1 year high of $236.90. The company has a market capitalization of $32.12 billion, a P/E ratio of 61.83, a PEG ratio of 2.03 and a beta of 0.74. The company’s fifty day moving average is $219.63 and its two-hundred day moving average is $202.71.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The company had revenue of $630.62 million for the quarter, compared to the consensus estimate of $620.75 million. As a group, equities analysts expect that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Analyst Ratings Changes

VEEV has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Tuesday, April 2nd. Raymond James reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Tuesday, March 26th. Jefferies Financial Group increased their price objective on shares of Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, Barclays raised their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $234.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in Veeva Systems by 9.6% during the 3rd quarter. Wellington Management Group LLP now owns 3,315,304 shares of the technology company’s stock worth $674,499,000 after purchasing an additional 289,133 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Veeva Systems by 6.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,167,960 shares of the technology company’s stock worth $417,376,000 after purchasing an additional 122,546 shares during the last quarter. FMR LLC boosted its holdings in shares of Veeva Systems by 15.4% in the third quarter. FMR LLC now owns 1,833,135 shares of the technology company’s stock valued at $372,951,000 after acquiring an additional 244,599 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Veeva Systems by 22.6% in the fourth quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company’s stock valued at $341,736,000 after acquiring an additional 327,662 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $305,543,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

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.