Veeva Systems Inc. (NYSE:VEEV – Get Rating) Director Matthew J. Wallach sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $166.20, for a total value of $1,662,000.00. Following the completion of the sale, the director now directly owns 2,546 shares in the company, valued at approximately $423,145.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Veeva Systems Stock Up 3.6 %

Shares of NYSE VEEV opened at $172.74 on Wednesday. The stock has a market capitalization of $26.82 billion, a price-to-earnings ratio of 71.09, a PEG ratio of 3.98 and a beta of 0.84. The stock's fifty day simple moving average is $195.76 and its 200 day simple moving average is $192.12. Veeva Systems Inc. has a 52-week low of $152.04 and a 52-week high of $327.78.

Veeva Systems (NYSE:VEEV – Get Rating) last issued its earnings results on Wednesday, August 31st. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.02. Veeva Systems had a return on equity of 13.40% and a net margin of 19.67%. The business had revenue of $534.20 million for the quarter, compared to analysts' expectations of $530.70 million. During the same period in the previous year, the firm posted $0.64 EPS. The company's quarterly revenue was up 17.3% on a year-over-year basis. As a group, analysts anticipate that Veeva Systems Inc. will post 2.53 earnings per share for the current year.

Institutional Inflows and Outflows

Analyst Upgrades and Downgrades

VEEV has been the topic of several recent research reports. Guggenheim cut their price target on Veeva Systems to $230.00 in a report on Tuesday, September 6th. The Goldman Sachs Group cut their price target on Veeva Systems to $235.00 in a report on Tuesday, September 6th. Raymond James lifted their target price on Veeva Systems from $205.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, September 1st. Canaccord Genuity Group cut their target price on Veeva Systems from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Thursday, September 1st. Finally, JMP Securities cut their target price on Veeva Systems from $240.00 to $215.00 and set a "market outperform" rating on the stock in a research note on Thursday, September 1st. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $223.05.

Veeva Systems Company Profile

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Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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