Timothy S. Cabral Sells 315 Shares of Veeva Systems Inc. (NYSE:VEEV) Stock

Veeva Systems Inc. (NYSE:VEEV) Director Timothy S. Cabral sold 315 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $1,593,460. The trade was a 5.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Veeva Systems Stock Up 0.2%

Shares of Veeva Systems stock opened at $283.96 on Wednesday. Veeva Systems Inc. has a 52 week low of $176.41 and a 52 week high of $291.68. The business’s fifty day simple moving average is $237.95 and its 200-day simple moving average is $231.16. The firm has a market cap of $46.20 billion, a PE ratio of 70.11, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The business had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. During the same quarter in the prior year, the company posted $1.50 EPS. The company’s quarterly revenue was up 16.7% on a year-over-year basis. As a group, equities analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Hedge Funds Weigh In On Veeva Systems

Large investors have recently modified their holdings of the business. Centricity Wealth Management LLC acquired a new position in Veeva Systems during the 4th quarter worth about $25,000. Abound Financial LLC acquired a new position in Veeva Systems during the 1st quarter worth about $25,000. ORG Partners LLC acquired a new position in Veeva Systems during the 1st quarter worth about $26,000. Smithfield Trust Co lifted its stake in Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after acquiring an additional 80 shares in the last quarter. Finally, Avion Wealth lifted its stake in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after acquiring an additional 127 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VEEV. Citigroup upped their target price on Veeva Systems from $265.00 to $329.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Barclays boosted their price target on Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, May 29th. KeyCorp dropped their price target on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Robert W. Baird boosted their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Finally, Scotiabank boosted their price target on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $269.80.

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.