Veeva Systems Inc. (NYSE:VEEV) EVP Alan Mateo Sells 3,391 Shares

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

Veeva Systems Stock Down 0.3 %

NYSE:VEEV opened at $200.58 on Thursday. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90. The stock’s 50-day simple moving average is $220.12 and its 200 day simple moving average is $202.74. The firm has a market capitalization of $32.36 billion, a PE ratio of 62.29, a price-to-earnings-growth ratio of 2.01 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. The company had revenue of $630.62 million for the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. On average, analysts anticipate that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on VEEV shares. The Goldman Sachs Group lifted their target price on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. upped their target price on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. KeyCorp lifted their price target on Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a report on Wednesday, March 27th. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.90.

Institutional Trading of Veeva Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Veeva Systems in the 4th quarter valued at $305,543,000. Linonia Partnership LP acquired a new position in Veeva Systems in the 4th quarter worth about $157,043,000. Invesco Ltd. raised its position in Veeva Systems by 239.7% in the third quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock valued at $194,570,000 after purchasing an additional 674,785 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Veeva Systems by 34.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock valued at $416,139,000 after purchasing an additional 522,257 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Veeva Systems by 22.6% during the fourth quarter. Van ECK Associates Corp now owns 1,775,065 shares of the technology company’s stock worth $341,736,000 after purchasing an additional 327,662 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Company Profile

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.