Insider Selling: Veeva Systems (NYSE:VEEV) Director Sells 750 Shares of Stock

Veeva Systems Inc. (NYSE:VEEV) Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $153.50, for a total value of $115,125.00. Following the sale, the director directly owned 4,003 shares in the company, valued at approximately $614,460.50. This represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Veeva Systems Price Performance

Shares of VEEV stock traded up $0.64 on Tuesday, hitting $159.09. 2,266,798 shares of the stock traded hands, compared to its average volume of 2,195,701. The company has a market capitalization of $25.98 billion, a PE ratio of 29.41, a PEG ratio of 0.99 and a beta of 1.10. Veeva Systems Inc. has a 1-year low of $148.05 and a 1-year high of $310.50. The company’s fifty day moving average is $179.63 and its 200 day moving average is $228.42.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The firm had revenue of $835.95 million for the quarter, compared to analyst estimates of $810.95 million. During the same period last year, the company earned $1.74 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.35 EPS for the current year.

Veeva Systems announced that its Board of Directors has authorized a stock buyback program on Monday, January 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC grew its stake in shares of Veeva Systems by 25.2% in the fourth quarter. Hsbc Holdings PLC now owns 198,902 shares of the technology company’s stock worth $44,481,000 after purchasing an additional 39,983 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Veeva Systems by 0.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 44,430 shares of the technology company’s stock worth $9,918,000 after purchasing an additional 309 shares in the last quarter. Osbon Capital Management LLC bought a new position in shares of Veeva Systems in the fourth quarter worth $86,000. Corient Private Wealth LLC grew its stake in shares of Veeva Systems by 10.3% in the fourth quarter. Corient Private Wealth LLC now owns 162,711 shares of the technology company’s stock worth $36,339,000 after purchasing an additional 15,244 shares in the last quarter. Finally, AG Campbell Advisory LLC bought a new position in shares of Veeva Systems in the fourth quarter worth $148,000. Institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on VEEV shares. Weiss Ratings lowered Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Royal Bank Of Canada dropped their target price on Veeva Systems from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Stifel Nicolaus increased their target price on Veeva Systems from $212.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Morgan Stanley increased their target price on Veeva Systems from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.70.

About Veeva Systems

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.