Frederic Lequient Sells 1,395 Shares of Veeva Systems Inc (VEEV) Stock

Veeva Systems Inc (NYSE:VEEV) SVP Frederic Lequient sold 1,395 shares of Veeva Systems stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $98.55, for a total value of $137,477.25. Following the transaction, the senior vice president now directly owns 4,429 shares of the company’s stock, valued at approximately $436,477.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of VEEV opened at $93.00 on Thursday. The stock has a market cap of $13.34 billion, a PE ratio of 101.09, a price-to-earnings-growth ratio of 4.07 and a beta of 1.65. Veeva Systems Inc has a 12-month low of $52.17 and a 12-month high of $109.05.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, November 28th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The firm had revenue of $224.70 million during the quarter, compared to the consensus estimate of $216.04 million. Veeva Systems had a return on equity of 16.20% and a net margin of 23.61%. The company’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS. On average, sell-side analysts forecast that Veeva Systems Inc will post 1.19 earnings per share for the current year.

A number of research firms have weighed in on VEEV. William Blair reaffirmed an “outperform” rating on shares of Veeva Systems in a report on Monday, October 8th. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $117.00 target price for the company in a report on Wednesday, August 29th. Morgan Stanley lifted their target price on Veeva Systems from $85.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, August 16th. Bank of America lifted their target price on Veeva Systems from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, October 5th. Finally, KeyCorp reaffirmed a “buy” rating on shares of Veeva Systems in a report on Thursday, August 23rd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $102.94.

Several institutional investors and hedge funds have recently modified their holdings of VEEV. Paradigm Asset Management Co. LLC bought a new stake in Veeva Systems in the 3rd quarter worth approximately $125,000. Rockefeller Capital Management L.P. bought a new stake in Veeva Systems in the 3rd quarter worth approximately $134,000. Flagship Harbor Advisors LLC bought a new stake in Veeva Systems in the 2nd quarter worth approximately $149,000. Global Trust Asset Management LLC bought a new stake in Veeva Systems in the 3rd quarter worth approximately $163,000. Finally, Mutual of America Capital Management LLC bought a new stake in Veeva Systems in the 2nd quarter worth approximately $169,000. Hedge funds and other institutional investors own 76.66% of the company’s stock.

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Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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