Gordon Ritter Sells 5,100 Shares of Veeva Systems Inc. (NYSE:VEEV) Stock

Veeva Systems Inc. (NYSE:VEEV) Director Gordon Ritter sold 5,100 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $62.78, for a total transaction of $320,178.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Gordon Ritter also recently made the following trade(s):

  • On Tuesday, August 8th, Gordon Ritter sold 10,200 shares of Veeva Systems stock. The shares were sold at an average price of $62.91, for a total transaction of $641,682.00.
  • On Friday, July 28th, Gordon Ritter sold 10,200 shares of Veeva Systems stock. The shares were sold at an average price of $63.60, for a total transaction of $648,720.00.
  • On Monday, July 10th, Gordon Ritter sold 5,100 shares of Veeva Systems stock. The shares were sold at an average price of $62.06, for a total transaction of $316,506.00.
  • On Tuesday, July 11th, Gordon Ritter sold 10,200 shares of Veeva Systems stock. The shares were sold at an average price of $62.03, for a total transaction of $632,706.00.
  • On Friday, June 30th, Gordon Ritter sold 10,200 shares of Veeva Systems stock. The shares were sold at an average price of $61.51, for a total transaction of $627,402.00.
  • On Thursday, June 15th, Gordon Ritter sold 10,200 shares of Veeva Systems stock. The shares were sold at an average price of $59.35, for a total transaction of $605,370.00.
  • On Thursday, June 1st, Gordon Ritter sold 10,200 shares of Veeva Systems stock. The shares were sold at an average price of $63.87, for a total transaction of $651,474.00.
  • On Monday, May 15th, Gordon Ritter sold 5,100 shares of Veeva Systems stock. The shares were sold at an average price of $57.25, for a total transaction of $291,975.00.
  • On Tuesday, May 16th, Gordon Ritter sold 10,200 shares of Veeva Systems stock. The shares were sold at an average price of $58.29, for a total transaction of $594,558.00.

Veeva Systems Inc. (NYSE VEEV) opened at 59.91 on Friday. The stock’s 50 day moving average is $62.83 and its 200 day moving average is $54.48. Veeva Systems Inc. has a 12-month low of $36.55 and a 12-month high of $68.07. The firm has a market cap of $8.37 billion, a P/E ratio of 96.47 and a beta of 1.63.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, May 25th. The technology company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.04. The business had revenue of $157.90 million for the quarter, compared to analysts’ expectations of $151.82 million. Veeva Systems had a return on equity of 12.28% and a net margin of 15.86%. Veeva Systems’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. On average, equities research analysts expect that Veeva Systems Inc. will post $0.83 EPS for the current year.

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A number of large investors have recently modified their holdings of the stock. Cim LLC boosted its stake in shares of Veeva Systems by 1.9% in the first quarter. Cim LLC now owns 10,503 shares of the technology company’s stock worth $539,000 after buying an additional 196 shares in the last quarter. Brown Capital Management LLC boosted its stake in shares of Veeva Systems by 3.4% in the first quarter. Brown Capital Management LLC now owns 7,423,513 shares of the technology company’s stock worth $380,678,000 after buying an additional 246,816 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Veeva Systems by 28.8% in the first quarter. Glen Harbor Capital Management LLC now owns 29,524 shares of the technology company’s stock worth $1,514,000 after buying an additional 6,600 shares in the last quarter. State Street Corp boosted its stake in shares of Veeva Systems by 4.4% in the first quarter. State Street Corp now owns 1,221,052 shares of the technology company’s stock worth $62,616,000 after buying an additional 51,135 shares in the last quarter. Finally, Comerica Bank purchased a new stake in shares of Veeva Systems during the first quarter worth $204,000. Institutional investors own 79.24% of the company’s stock.

Several research firms have commented on VEEV. Zacks Investment Research lowered shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 27th. Stifel Nicolaus reissued a “buy” rating and set a $67.00 price target on shares of Veeva Systems in a research report on Monday, July 10th. BidaskClub lowered shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Morgan Stanley lowered shares of Veeva Systems from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $53.00 to $68.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Finally, Citigroup Inc. increased their price target on shares of Veeva Systems from $61.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $62.00.

About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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