Insider Selling: Veeva Systems Inc. (VEEV) Insider Sells 2,924 Shares of Stock

Veeva Systems Inc. (NYSE:VEEV) insider Eleni Nitsa Zuppas sold 2,924 shares of Veeva Systems stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $66.78, for a total transaction of $195,264.72. Following the transaction, the insider now directly owns 7,028 shares in the company, valued at approximately $469,329.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Eleni Nitsa Zuppas also recently made the following trade(s):

  • On Friday, June 2nd, Eleni Nitsa Zuppas sold 3,000 shares of Veeva Systems stock. The shares were sold at an average price of $66.66, for a total transaction of $199,980.00.
  • On Tuesday, May 30th, Eleni Nitsa Zuppas sold 4,897 shares of Veeva Systems stock. The shares were sold at an average price of $64.75, for a total transaction of $317,080.75.
  • On Tuesday, April 11th, Eleni Nitsa Zuppas sold 20,000 shares of Veeva Systems stock. The shares were sold at an average price of $50.70, for a total transaction of $1,014,000.00.
  • On Tuesday, March 28th, Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock. The shares were sold at an average price of $50.95, for a total transaction of $305,700.00.
  • On Thursday, March 16th, Eleni Nitsa Zuppas sold 10,000 shares of Veeva Systems stock. The shares were sold at an average price of $49.03, for a total transaction of $490,300.00.

Shares of Veeva Systems Inc. (NYSE VEEV) traded up 0.29% during midday trading on Friday, hitting $59.63. 1,490,485 shares of the stock were exchanged. Veeva Systems Inc. has a 1-year low of $32.61 and a 1-year high of $68.07. The stock’s 50-day moving average price is $59.71 and its 200-day moving average price is $49.17. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 96.02 and a beta of 1.63.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, May 25th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $157.90 million for the quarter, compared to the consensus estimate of $151.82 million. Veeva Systems had a net margin of 15.86% and a return on equity of 12.28%. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 earnings per share. On average, analysts forecast that Veeva Systems Inc. will post $0.83 EPS for the current year.

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

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VEEV has been the topic of a number of recent research reports. Needham & Company LLC lifted their price objective on shares of Veeva Systems from $46.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. Stifel Nicolaus boosted their target price on shares of Veeva Systems to $50.00 in a report on Wednesday, March 1st. Bank of America Corporation upgraded shares of Veeva Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $48.00 to $70.00 in a report on Friday, May 26th. Canaccord Genuity restated a “buy” rating and set a $70.00 target price (up from $48.00) on shares of Veeva Systems in a report on Friday, May 26th. Finally, Pacific Crest restated an “overweight” rating and set a $70.00 target price (up from $61.00) on shares of Veeva Systems in a report on Sunday, May 28th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $62.00.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SECOR Capital Advisors LP increased its position in shares of Veeva Systems by 251.0% in the third quarter. SECOR Capital Advisors LP now owns 168,686 shares of the technology company’s stock worth $6,963,000 after buying an additional 120,621 shares during the last quarter. White Elm Capital LLC acquired a new position in shares of Veeva Systems during the third quarter worth about $11,827,000. Avalon Global Asset Management LLC acquired a new position in shares of Veeva Systems during the third quarter worth about $3,715,000. Russell Investments Group Ltd. acquired a new position in shares of Veeva Systems during the fourth quarter worth about $2,302,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Veeva Systems by 1.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 96,480 shares of the technology company’s stock worth $3,927,000 after buying an additional 1,205 shares during the last quarter. 80.68% of the stock is currently owned by hedge funds and other institutional investors.

About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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