Insider Selling: Veeva Systems Inc. (NYSE:VEEV) SVP Sells 787 Shares of Stock

Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Veeva Systems Trading Down 0.6 %

NYSE:VEEV traded down $1.39 during mid-day trading on Wednesday, hitting $226.51. 1,578,792 shares of the company’s stock traded hands, compared to its average volume of 1,047,041. The firm has a 50 day moving average of $232.01 and a two-hundred day moving average of $223.02. The firm has a market capitalization of $36.85 billion, a price-to-earnings ratio of 55.93, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

Institutional Trading of Veeva Systems

A number of institutional investors and hedge funds have recently modified their holdings of VEEV. Cullen Investment Group LTD. bought a new position in shares of Veeva Systems in the first quarter valued at approximately $1,724,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Veeva Systems by 61.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the technology company’s stock valued at $44,000 after purchasing an additional 73 shares in the last quarter. 111 Capital acquired a new position in shares of Veeva Systems during the fourth quarter valued at $678,000. NorthCrest Asset Manangement LLC boosted its stake in shares of Veeva Systems by 2.1% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 48,781 shares of the technology company’s stock valued at $10,256,000 after purchasing an additional 1,011 shares during the last quarter. Finally, PKO Investment Management Joint Stock Co bought a new position in Veeva Systems in the fourth quarter valued at approximately $336,000. 88.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VEEV has been the topic of several recent research reports. Piper Sandler raised their price target on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Stephens reaffirmed an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Stifel Nicolaus boosted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup upped their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Barclays lifted their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $256.52.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.