Veeva Systems Inc. (NYSE:VEEV) Brief Interest Update
Veeva Systems Inc. (NYSE:VEEV – Get Rating) saw a significant drop in short-term interest in June. As of June 15, there was short interest totaling 2,110,000 shares, down 35.5% from the May 31 total of 3,270,000 shares. Based on an average trading volume of 1,110,000 shares, the short interest ratio is currently 1.9 days. Approximately 1.7% of the company’s shares are sold short.
In other Veeva Systems news, Director Ronald EF Codd sold 20,000 shares of the company in a trade on Wednesday, April 6. The shares were sold at an average price of $207.14, for a total transaction of $4,142,800.00. Following completion of the transaction, the director now directly owns 442 shares of the company, valued at approximately $91,555.88. The sale was disclosed in a document filed with the SEC, which is available via this hyperlink. Additionally, CAO Michele O’connor sold 371 shares of the company in a trade that took place on Friday, June 3. The shares were sold at an average price of $189.37, for a total value of $70,256.27. Following the completion of the sale, the chief accounting officer now owns 15,833 shares of the company, valued at $2,998,295.21. The disclosure of this sale can be found here. Insiders have sold 35,371 shares of the company valued at $7,106,306 in the past three months. Insiders of the company own 13.23% of the shares of the company.
Institutional investors have recently changed their stake in the company. Tyler Stone Wealth Management bought a new stock position in Veeva Systems during Q4 for a value of approximately $28,000. Jackson Grant Investment Advisers Inc. bought a new position in Veeva Systems during the first quarter worth approximately $28,000. Ten Capital Wealth Advisors LLC acquired a new position in Veeva Systems in Q4 worth approximately $29,000. Amplius Wealth Advisors LLC acquired a new position in Veeva Systems in Q4 worth approximately $31,000. Finally, Global Wealth Management Investment Advisory Inc. increased its position in Veeva Systems shares by 1,230.0% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 133 shares of the technology company worth $34,000 after acquiring 123 additional shares during the period.
Shares of NYSE VEEV traded at $6.07 during Friday trading hours, hitting $204.11. 1,167,479 shares were traded, against an average volume of 1,121,279. Veeva Systems has a one-year low of $152.04 and a one-year high of $343.96. The company’s 50-day moving average is $179.78 and its 200-day moving average is $205.66. The company has a market capitalization of $31.61 billion, a P/E ratio of 80.36, a P/E/G ratio of 4.32 and a beta of 0.86.
Veeva Systems (NYSE:VEEV – Get Rating) last released its quarterly results on Wednesday, June 1. The technology company reported earnings per share (EPS) of $0.64 for the quarter, beating consensus analyst estimates of $0.61 by $0.03. The company posted revenue of $505.10 million in the quarter, compared to $495.88 million expected by analysts. Veeva Systems achieved a net margin of 21.43% and a return on equity of 14.60%. The company’s quarterly revenue increased by 16.5% compared to the same quarter last year. In the same period a year earlier, the company had earned earnings per share of $0.67. On average, analysts expect Veeva Systems to post an EPS of 2.79 for the current year.
VEEV has been the subject of a number of research analyst reports. Raymond James cut his price target on Veeva Systems shares from $260.00 to $205.00 in a Thursday, June 2 research report. Guggenheim reaffirmed a “buy” rating and set a price target of $252.00 on shares of Veeva Systems in a Tuesday, June 21 research note. Citigroup raised its price target on shares of Veeva Systems to $232.00 in a Friday, June 3 report. JMP Securities lowered its price target on Veeva Systems shares from $265.00 to $240.00 and set a “market outperformance” rating for the company in a Thursday, June 2 research note. Finally, the Goldman Sachs group assumed coverage for Veeva Systems shares in a Thursday, June 23 research note. They set a “buy” rating and a target price of $253.00 on the stock. Six analysts gave the stock a hold rating and fifteen gave the company a buy rating. Based on MarketBeat data, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $255.68.
Veeva Systems Company Profile (Get an evaluation)
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, Asia-Pacific, the Middle East, Africa and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data and analytics solutions, which includes 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 application for managing business functions, including sales and marketing, and medical content and communications, as well as research and development functions. , such as clinical, regulatory, quality and safety functions.
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