Matthew J. Wallach Sells 12,000 Shares of Veeva Systems (VEEV) Stock
Veeva Systems (NYSE:VEEV) President Matthew J. Wallach sold 12,000 shares of the business’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $77.63, for a total value of $931,560.00. Following the sale, the president now directly owns 12,000 shares of the company’s stock, valued at approximately $931,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Veeva Systems opened at $76.15 on Friday, according to MarketBeat.com. Veeva Systems has a 1-year low of $75.41 and a 1-year high of $77.02. The stock has a market capitalization of $10.70 billion, a PE ratio of 82.77, a P/E/G ratio of 4.55 and a beta of 1.40.
Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Tuesday, February 27th. The technology company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Veeva Systems had a return on equity of 11.89% and a net margin of 20.71%. The business had revenue of $184.92 million for the quarter, compared to analysts’ expectations of $180.13 million. research analysts expect that Veeva Systems will post 0.98 EPS for the current fiscal year.
VEEV has been the subject of a number of research reports. JMP Securities boosted their price target on Veeva Systems from $74.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, March 23rd. Morgan Stanley raised Veeva Systems from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 30th. Zacks Investment Research downgraded Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 1st. William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a research report on Wednesday, February 21st. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $81.00 target price (up previously from $70.00) on shares of Veeva Systems in a research report on Friday, March 2nd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Veeva Systems presently has an average rating of “Buy” and a consensus price target of $72.23.
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, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud-based enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality.
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