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

Veeva Systems Inc. (NYSE:VEEV) Director Timothy S. Cabral sold 315 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $289.72, for a total value of $91,261.80. Following the sale, the director now directly owns 5,500 shares in the company, valued at $1,593,460. This trade represents a 5.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Veeva Systems Price Performance

Shares of VEEV stock opened at $282.86 on Tuesday. The business has a fifty day moving average of $236.70 and a 200 day moving average of $230.79. Veeva Systems Inc. has a 1 year low of $176.41 and a 1 year high of $291.68. The firm has a market capitalization of $46.02 billion, a price-to-earnings ratio of 69.84, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $759.04 million during the quarter, compared to analysts’ expectations of $728.38 million. During the same period last year, the business posted $1.50 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on VEEV shares. Scotiabank upped their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. KeyCorp lowered their price target on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Raymond James boosted their price objective on shares of Veeva Systems from $285.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday, May 29th. Finally, Barclays increased their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $269.80.

Hedge Funds Weigh In On Veeva Systems

Institutional investors have recently bought and sold shares of the business. Cardinal Capital Management boosted its holdings in shares of Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock valued at $3,307,000 after acquiring an additional 44 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in Veeva Systems by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company’s stock valued at $56,000 after purchasing an additional 44 shares during the last quarter. TFB Advisors LLC grew its position in Veeva Systems by 1.2% during the 1st quarter. TFB Advisors LLC now owns 3,586 shares of the technology company’s stock worth $831,000 after purchasing an additional 44 shares during the period. Marks Group Wealth Management Inc grew its position in Veeva Systems by 3.3% during the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company’s stock worth $331,000 after purchasing an additional 46 shares during the period. Finally, Colonial Trust Co SC raised its stake in shares of Veeva Systems by 30.3% during the 4th quarter. Colonial Trust Co SC now owns 241 shares of the technology company’s stock valued at $51,000 after buying an additional 56 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

About Veeva Systems

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.