A Major Shareholder at Veeva Systems (NYSE: VEEV) is Selling Shares

By George MacDonald

Today, a Major Shareholder at Veeva Systems (NYSE: VEEV), Mark Armenante, sold shares of VEEV for $62.35k.

In addition to Mark Armenante, 17 other VEEV executives reported Sell trades in the last month. Over the last month, Mark Armenante has reported 7 Sell trades on VEEV for a total of $8.47M.

Based on Veeva Systems` latest earnings report from October 31, the company posted quarterly revenue of $106.9M and quarterly net profit of $10.48M. In comparison, last year the company earned revenue of $87.01M and had a net profit of $13.33M. The company has a one year high of $29.34 and a one year low of $19.97. VEEV’s market cap is $3.31B and the company has a P/E ratio of 65.12%.

Based on 5 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $31.60, reflecting a -20.9% downside.

Looking at blogger coverage of VEEV, there is a 60% Bullish tendency on the stock, in relation to a 75% average bullish tendency within the Technology sector.

Over the last 3 months, the insider sentiment on Veeva Systems has been negative based on 161 corporate insider transactions. This sentiment is lower than the average sector sentiment of insiders.

Veeva Systems, Inc. provides industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance. The company’s customer relationship management solutions enable its customers to increase the productivity and compliance of their sales and marketing functions. Its regulated content management and collaboration solutions enable its customers to more efficiently manage a range of highly regulated, content-centric processes across the enterprise. The company’s customer master solution enables customers to more effectively manage complex healthcare provider and healthcare organization data. Veeva Systems was founded by Mark Armenante, Peter P. Gassner, Doug Ostler, Mitch Wallace and Matthew J. Wallach on January 12, 2007 and is headquartered in Pleasanton, CA.