Veeva Systems Inc. (NYSE:VEEV) EVP Alan Mateo Sells 3,391 Shares of Stock

Veeva Systems Inc. (NYSE:VEEV) EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Veeva Systems Price Performance

VEEV stock opened at $200.95 on Wednesday. Veeva Systems Inc. has a 1 year low of $160.21 and a 1 year high of $236.90. The company has a market cap of $32.42 billion, a P/E ratio of 62.41, a PEG ratio of 2.00 and a beta of 0.74. The firm has a 50-day moving average of $220.53 and a 200 day moving average of $202.75.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The company had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. On average, equities research analysts expect that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on VEEV shares. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Tuesday, April 2nd. Oppenheimer restated an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a research report on Thursday, February 22nd. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. KeyCorp upped their price target on shares of Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, Barclays upped their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average target price of $234.90.

Hedge Funds Weigh In On Veeva Systems

Institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its stake in Veeva Systems by 703.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock worth $3,002,000 after buying an additional 13,654 shares in the last quarter. Nordea Investment Management AB grew its holdings in Veeva Systems by 5.2% in the fourth quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock worth $31,730,000 after purchasing an additional 8,007 shares during the period. ICICI Prudential Asset Management Co Ltd grew its holdings in Veeva Systems by 13.1% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company’s stock worth $9,460,000 after purchasing an additional 5,674 shares during the period. Lecap Asset Management Ltd. purchased a new stake in Veeva Systems in the fourth quarter worth about $2,668,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in Veeva Systems by 26.3% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 98,377 shares of the technology company’s stock worth $18,953,000 after purchasing an additional 20,488 shares during the period. 88.20% of the stock is owned by 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.