Veeva Systems Inc. (NYSE:VEEV - Get Free Report) insider Thomas Schwenger sold 36,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $250.23, for a total value of $9,008,280.00. Following the completion of the sale, the insider directly owned 19,449 shares of the company's stock, valued at approximately $4,866,723.27. This trade represents a 64.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Veeva Systems Stock Down 2.2%
VEEV stock opened at $238.40 on Tuesday. The firm has a market capitalization of $38.73 billion, a PE ratio of 42.50, a P/E/G ratio of 1.05 and a beta of 0.92. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50. The stock's 50 day moving average is $191.38 and its 200-day moving average is $180.68.
Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.10. The business had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.Veeva Systems's revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.97 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. On average, equities research analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their target price on shares of Veeva Systems from $235.00 to $220.00 and set a "hold" rating for the company in a research note on Thursday, June 4th. BMO Capital Markets dropped their price target on shares of Veeva Systems from $220.00 to $175.00 and set a "market perform" rating on the stock in a research report on Thursday, June 4th. Guggenheim initiated coverage on shares of Veeva Systems in a report on Thursday, July 23rd. They set a "buy" rating and a $232.00 price target on the stock. The Goldman Sachs Group reduced their price objective on shares of Veeva Systems from $190.00 to $165.00 and set a "sell" rating for the company in a research report on Thursday, June 4th. Finally, Robert W. Baird increased their price objective on shares of Veeva Systems from $250.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $252.08.
View Our Latest Research Report on Veeva Systems
Institutional Investors Weigh In On Veeva Systems
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Veeva Systems during the fourth quarter worth about $332,412,000. Durable Capital Partners LP purchased a new position in shares of Veeva Systems in the second quarter worth about $281,351,000. Arrowstreet Capital Limited Partnership raised its position in shares of Veeva Systems by 203.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 913,281 shares of the technology company's stock valued at $160,427,000 after purchasing an additional 611,868 shares during the period. AQR Capital Management LLC lifted its stake in shares of Veeva Systems by 31.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company's stock valued at $706,078,000 after buying an additional 574,164 shares in the last quarter. Finally, Swedbank AB boosted its holdings in Veeva Systems by 43.5% in the 1st quarter. Swedbank AB now owns 1,645,128 shares of the technology company's stock worth $288,983,000 after buying an additional 498,971 shares during the period. 88.20% of the stock is currently owned by institutional investors.
Veeva Systems Company Profile
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Get Free Report)
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.
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