Veeva Systems (VEEV) Shares Down 6.6% Following Insider Selling

Veeva Systems Inc (NYSE:VEEV)’s share price traded down 6.6% during mid-day trading on Monday following insider selling activity. The stock traded as low as $134.72 and last traded at $134.92. 1,391,915 shares traded hands during trading, an increase of 12% from the average session volume of 1,238,591 shares. The stock had previously closed at $144.53.

Specifically, EVP Alan Mateo sold 4,026 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $141.12, for a total transaction of $568,149.12. Following the transaction, the executive vice president now owns 25,200 shares of the company’s stock, valued at approximately $3,556,224. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Eleni Nitsa Zuppas sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $141.28, for a total transaction of $423,840.00. Following the transaction, the chief marketing officer now directly owns 12,738 shares in the company, valued at approximately $1,799,624.64. The disclosure for this sale can be found here. Insiders have sold a total of 123,542 shares of company stock worth $15,168,295 in the last three months. Insiders own 15.97% of the company’s stock.

A number of brokerages have recently issued reports on VEEV. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price objective (up previously from $135.00) on shares of Veeva Systems in a research report on Wednesday, April 17th. DA Davidson lifted their price objective on shares of Veeva Systems to $160.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. KeyCorp lifted their price objective on shares of Veeva Systems from $114.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 27th. Deutsche Bank lifted their price objective on shares of Veeva Systems from $100.00 to $115.00 and gave the stock a “hold” rating in a research report on Wednesday, February 27th. Finally, ValuEngine raised shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $119.71.



The stock has a market capitalization of $20.33 billion, a price-to-earnings ratio of 108.81, a P/E/G ratio of 6.27 and a beta of 1.71.

Veeva Systems (NYSE:VEEV) last released its earnings results on Tuesday, February 26th. The technology company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. The company had revenue of $232.32 million for the quarter, compared to the consensus estimate of $227.15 million. Veeva Systems had a net margin of 26.66% and a return on equity of 16.91%. Veeva Systems’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. On average, research analysts expect that Veeva Systems Inc will post 1.53 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in VEEV. Ffcm LLC purchased a new stake in Veeva Systems during the 4th quarter worth approximately $26,000. First Personal Financial Services lifted its stake in Veeva Systems by 241.7% during the 1st quarter. First Personal Financial Services now owns 205 shares of the technology company’s stock valued at $26,000 after acquiring an additional 145 shares during the period. Bollard Group LLC acquired a new stake in Veeva Systems during the 4th quarter valued at approximately $27,000. Hanson McClain Inc. lifted its stake in Veeva Systems by 67.2% during the 1st quarter. Hanson McClain Inc. now owns 224 shares of the technology company’s stock valued at $28,000 after acquiring an additional 90 shares during the period. Finally, Private Capital Group LLC lifted its stake in Veeva Systems by 508.6% during the 4th quarter. Private Capital Group LLC now owns 353 shares of the technology company’s stock valued at $32,000 after acquiring an additional 295 shares during the period. 77.91% of the stock is currently owned by institutional investors.

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About Veeva Systems (NYSE:VEEV)

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 and data 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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