Stock Traders Purchase High Volume of Call Options on Veeva Systems (NYSE:VEEV)

Veeva Systems Inc. (NYSE:VEEV) saw some unusual options trading on Tuesday. Traders purchased 8,283 call options on the company. This represents an increase of 259% compared to the average volume of 2,308 call options.

Veeva Systems Trading Down 0.2%

NYSE VEEV opened at $282.21 on Thursday. The business’s 50-day moving average price is $259.23 and its two-hundred day moving average price is $236.61. Veeva Systems has a 12 month low of $177.41 and a 12 month high of $291.69. The firm has a market capitalization of $46.12 billion, a PE ratio of 59.79, a price-to-earnings-growth ratio of 2.24 and a beta of 0.98.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a return on equity of 13.96% and a net margin of 27.34%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.50 EPS. As a group, analysts forecast that Veeva Systems will post 4.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on Veeva Systems from $201.00 to $210.00 and gave the stock an “underweight” rating in a report on Thursday, May 29th. Wells Fargo & Company increased their target price on Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Robert W. Baird increased their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. UBS Group raised their price target on Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Finally, Needham & Company LLC raised their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $269.80.

Insiders Place Their Bets

In other Veeva Systems news, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the transaction, the director owned 5,500 shares of the company’s stock, valued at $1,593,460. The trade was a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider directly owned 25,889 shares of the company’s stock, valued at approximately $5,720,692.33. The trade was a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,397 shares of company stock worth $1,198,160 over the last quarter. 10.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Veeva Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. Johnson Financial Group Inc. boosted its stake in Veeva Systems by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company’s stock valued at $56,000 after buying an additional 44 shares during the period. TFB Advisors LLC lifted its stake in Veeva Systems by 1.2% during the first quarter. TFB Advisors LLC now owns 3,586 shares of the technology company’s stock worth $831,000 after purchasing an additional 44 shares during the last quarter. Marks Group Wealth Management Inc lifted its stake in Veeva Systems by 3.3% during the first quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company’s stock worth $331,000 after purchasing an additional 46 shares during the last quarter. Colonial Trust Co SC lifted its stake in Veeva Systems by 30.3% during the fourth quarter. Colonial Trust Co SC now owns 241 shares of the technology company’s stock worth $51,000 after purchasing an additional 56 shares during the last quarter. Finally, Harbour Investments Inc. lifted its stake in Veeva Systems by 7.6% during the first quarter. Harbour Investments Inc. now owns 789 shares of the technology company’s stock worth $183,000 after purchasing an additional 56 shares during the last quarter. 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.