There has been some selling insider activity on Veeva Systems Inc. Class A (NYSE:VEEV) recently. Gordon Ritter, Director let go of $635,256 worth of shares at a price of $62.28 on Tue the 11th. That brings the Director’s holdings to $25,953,322 as reported to the SEC. Ronald E. F. Codd, Director reported the sale of 2,000 shares. The shares were sold on July 5th for an average price of $60.42. The Director now owns $379,136 of the stock according to the SEC filing.
Director Gordon Ritter let go of 10,200 shares at a price of $61.51 on June 30th. Ritter now owns $26,259,849 of stock as recorded in a recent Form 4 SEC filing.
Veeva Systems Inc. (Veeva), launched on January 12, 2007, 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. The Company offers solutions to areas, including the Veeva CRM family of applications for multichannel customer relationship management to enable coordinated and personalized customer engagement through multiple touch points; Veeva Vault for regulated content management and information management solutions to enable the management of content-centric processes; the Veeva Network master data management solutions for the management of customer master and product master data, and Veeva’s data and data services offerings, including Veeva OpenData for customer reference data and Veeva KOL Data for data..
Here are some other firms who have updated their holdings. As of quarter end Creative Planning had acquired 232 shares growing its position 1.5%. The value of the investment in Veeva Systems Inc. Class A went from $779,000 to $946,000 increasing 21.4% quarter over quarter. As of the end of the quarter Level Four Advisory Services, LLC had sold a total of 5,382 shares trimming its stake by 46.3%. The value of the total investment in Veeva Systems Inc. Class A decreased from $592,000 to $316,000 a change of $276,000 quarter to quarter.
Bank Of Montreal /can/ downsized its position by shedding 275 shares a decrease of 18.4% from 03/31/2017 to 06/30/2017. Bank Of Montreal /can/ claims 1,220 shares worth $75,000. The total value of its holdings decreased 2.6%. Baird Financial Group, Inc. cut its stake by selling 393,223 shares a decrease of 39.5% as of 03/31/2017. Baird Financial Group, Inc. now controls 602,309 shares with a value of $30,886,000. The value of the position overall is down by 23.8%.
On June 5 the company was downgraded from “Overweight” to “Buy” by Morgan Stanley. On May 26 the stock rating was upgraded to “Buy” from “Neutral” in an announcement from Bank of America.
On November 23 KeyBanc maintained a stock rating of “Hold” and raised the price expectation from $42.00 to $44.00. November 23 investment analysts at Deutsche Bank made no change to the stock rating of “Overweight” and raised the price target to $48.00 from $35.00.
JMP Securities starting coverage on VEEV with a rating of “Market Perform”. On October 4 analysts at Goldman Sachs started coverage by announcing an initial rating of “Neutral” and projecting a price target of $43.00.
The company is up since yesterday’s close of $62.93. Shares last traded at $63.98 slightly over the 50 day moving average which is $61.65 and which is slightly above the 200 day moving average of $50.34. The 50 day moving average went up $2.33 or +3.77% and the 200 day average moved up $13.64.
The company’s P/E ratio is 103.03 and the market value is 8.94B. In the latest earnings report the EPS was $0.62 and is projected to be $0.83 for the current year with 139,752,000 shares outstanding. Next quarter’s EPS is forecasted at $0.20 and the next full year EPS is projected to be $0.99.