Insider Selling: Veeva Systems Inc (NYSE:VEEV) Director Sells $674,297.65 in Stock

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Veeva Systems Inc (NYSE:VEEV) Director Paul J. Sekhri sold 4,615 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $146.11, for a total value of $674,297.65. Following the completion of the transaction, the director now directly owns 11,550 shares of the company’s stock, valued at approximately $1,687,570.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

NYSE:VEEV opened at $142.65 on Friday. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $147.44 and its two-hundred day moving average is $155.79. Veeva Systems Inc has a 52 week low of $79.26 and a 52 week high of $176.90. The company has a market cap of $21.24 billion, a PE ratio of 115.04, a P/E/G ratio of 4.00 and a beta of 1.24.

Veeva Systems (NYSE:VEEV) last released its earnings results on Tuesday, November 26th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.19. Veeva Systems had a return on equity of 17.56% and a net margin of 29.86%. The company had revenue of $280.90 million for the quarter, compared to the consensus estimate of $274.81 million. During the same quarter last year, the business posted $0.41 EPS. Veeva Systems’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, sell-side analysts expect that Veeva Systems Inc will post 1.64 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in VEEV. BlackRock Inc. lifted its holdings in Veeva Systems by 16.3% during the 2nd quarter. BlackRock Inc. now owns 8,770,784 shares of the technology company’s stock worth $1,421,833,000 after buying an additional 1,231,904 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Veeva Systems by 260.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,328,118 shares of the technology company’s stock worth $215,301,000 after buying an additional 959,268 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Veeva Systems by 2,101.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 933,268 shares of the technology company’s stock worth $151,292,000 after buying an additional 890,867 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Veeva Systems by 41.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,958,283 shares of the technology company’s stock worth $311,054,000 after buying an additional 569,097 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Veeva Systems by 420.9% during the 2nd quarter. Invesco Ltd. now owns 662,832 shares of the technology company’s stock worth $107,452,000 after buying an additional 535,581 shares during the last quarter. 77.75% of the stock is currently owned by institutional investors.

A number of brokerages recently commented on VEEV. Raymond James raised Veeva Systems from a “market perform” rating to an “outperform” rating and set a $180.00 price target for the company in a report on Thursday, September 26th. KeyCorp increased their price target on Veeva Systems from $172.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. DA Davidson increased their price target on Veeva Systems from $165.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Canaccord Genuity increased their price target on Veeva Systems from $155.00 to $165.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Finally, SunTrust Banks set a $180.00 price target on Veeva Systems and gave the company a “buy” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $172.61.

Veeva Systems Company Profile

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.

See Also: Why do analysts give a neutral rating?

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

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