Veeva Systems Inc. (NYSE:VEEV) Insider Sells $270,251.26 in Stock

Veeva Systems Inc. (NYSE:VEEV) insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Veeva Systems Trading Down 1.5 %

VEEV stock opened at $229.71 on Friday. The firm has a market cap of $37.20 billion, a PE ratio of 61.26, a price-to-earnings-growth ratio of 2.25 and a beta of 0.81. The stock has a 50-day moving average price of $215.14 and a 200-day moving average price of $200.49. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. On average, analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Barclays raised their target price on shares of Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, November 8th. TD Cowen upped their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Guggenheim lifted their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler upped their target price on Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $237.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC bought a new position in shares of Veeva Systems during the 1st quarter worth about $1,083,000. Concurrent Investment Advisors LLC bought a new stake in shares of Veeva Systems during the first quarter valued at approximately $228,000. Meeder Advisory Services Inc. increased its holdings in shares of Veeva Systems by 11.2% during the first quarter. Meeder Advisory Services Inc. now owns 2,078 shares of the technology company’s stock valued at $481,000 after acquiring an additional 210 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Veeva Systems during the first quarter worth approximately $94,000. Finally, Russell Investments Group Ltd. grew its position in Veeva Systems by 13.0% in the 1st quarter. Russell Investments Group Ltd. now owns 178,851 shares of the technology company’s stock valued at $41,506,000 after purchasing an additional 20,523 shares during the period. 88.20% of the stock is owned by 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.