Veeva Systems Inc (NYSE:VEEV) Director Paul J. Sekhri sold 601 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $103.67, for a total transaction of $62,305.67. Following the completion of the transaction, the director now directly owns 11,459 shares of the company’s stock, valued at approximately $1,187,954.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of Veeva Systems stock traded up $1.16 during midday trading on Thursday, reaching $105.62. 16,514 shares of the company’s stock traded hands, compared to its average volume of 1,200,611. The company has a market capitalization of $14.97 billion, a P/E ratio of 114.73, a P/E/G ratio of 4.93 and a beta of 1.54. Veeva Systems Inc has a 52 week low of $52.17 and a 52 week high of $107.77.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, August 23rd. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $209.60 million for the quarter, compared to the consensus estimate of $203.50 million. Veeva Systems had a net margin of 21.23% and a return on equity of 13.58%. Veeva Systems’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. equities research analysts anticipate that Veeva Systems Inc will post 1.1 EPS for the current year.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $117.00 target price for the company in a research note on Wednesday, August 29th. ValuEngine raised shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. Guggenheim assumed coverage on shares of Veeva Systems in a research note on Tuesday, August 7th. They set a “buy” rating and a $100.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price (up previously from $90.00) on shares of Veeva Systems in a research note on Friday, August 24th. Finally, Morgan Stanley lifted their target price on shares of Veeva Systems from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 24th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $94.29.

Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of Veeva Systems by 2.5% during the 2nd quarter. Northern Trust Corp now owns 766,826 shares of the technology company’s stock valued at $58,938,000 after purchasing an additional 18,713 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Veeva Systems by 2.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 92,824 shares of the technology company’s stock worth $7,134,000 after acquiring an additional 2,400 shares during the period. Andra AP fonden raised its holdings in Veeva Systems by 2.6% in the 2nd quarter. Andra AP fonden now owns 70,700 shares of the technology company’s stock worth $5,434,000 after acquiring an additional 1,800 shares during the period. Verition Fund Management LLC raised its holdings in Veeva Systems by 57.8% in the 2nd quarter. Verition Fund Management LLC now owns 16,522 shares of the technology company’s stock worth $1,270,000 after acquiring an additional 6,054 shares during the period. Finally, Morse Asset Management Inc bought a new position in Veeva Systems in the 2nd quarter worth $272,000. Institutional investors and hedge funds own 75.99% of the company’s stock.

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, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content 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: Dividend

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

Receive News & Ratings for Veeva Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems and related companies with MarketBeat.com's FREE daily email newsletter.