Veeva Systems Inc (NYSE:VEEV) Director Paul J. Sekhri sold 6,016 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $98.09, for a total transaction of $590,109.44. Following the transaction, the director now directly owns 31,459 shares of the company’s stock, valued at approximately $3,085,813.31. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of VEEV opened at $92.34 on Friday. The stock has a market cap of $13.34 billion, a PE ratio of 100.37, a P/E/G ratio of 4.07 and a beta of 1.65. Veeva Systems Inc has a 52 week low of $52.17 and a 52 week high of $109.05.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, November 28th. The technology company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The business had revenue of $224.70 million during the quarter, compared to analyst estimates of $216.04 million. Veeva Systems had a net margin of 23.61% and a return on equity of 16.20%. The firm’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. Sell-side analysts forecast that Veeva Systems Inc will post 1.19 EPS for the current fiscal year.

A number of research analysts have weighed in on the stock. Canaccord Genuity lowered shares of Veeva Systems from a “buy” rating to a “hold” rating and boosted their target price for the stock from $98.00 to $105.00 in a research report on Monday, October 1st. 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 report on Wednesday, August 29th. ValuEngine raised shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. Bank of America upped their price objective on shares of Veeva Systems from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, October 5th. Finally, Leerink Swann started coverage on shares of Veeva Systems in a research report on Tuesday. They set an “outperform” rating and a $120.00 price objective for the company. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Veeva Systems has an average rating of “Buy” and an average target price of $102.94.

Several institutional investors and hedge funds have recently made changes to their positions in the company. United Services Automobile Association increased its stake in Veeva Systems by 2.9% in the second quarter. United Services Automobile Association now owns 18,516 shares of the technology company’s stock valued at $1,423,000 after acquiring an additional 529 shares during the period. Standard Life Aberdeen plc increased its stake in Veeva Systems by 2.0% in the third quarter. Standard Life Aberdeen plc now owns 28,661 shares of the technology company’s stock valued at $3,120,000 after acquiring an additional 568 shares during the period. Shell Asset Management Co. increased its stake in Veeva Systems by 6.5% in the third quarter. Shell Asset Management Co. now owns 9,554 shares of the technology company’s stock valued at $1,040,000 after acquiring an additional 580 shares during the period. Comerica Bank increased its stake in Veeva Systems by 11.2% in the third quarter. Comerica Bank now owns 5,773 shares of the technology company’s stock valued at $515,000 after acquiring an additional 583 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Veeva Systems by 13.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,400 shares of the technology company’s stock valued at $415,000 after acquiring an additional 650 shares during the period. 76.66% of the stock is owned by institutional investors and hedge funds.

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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.

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