Veeva Systems Inc. (NYSE:VEEV) SVP Sells $178,019.40 in Stock

Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Veeva Systems Stock Down 3.6 %

Shares of Veeva Systems stock opened at $213.59 on Friday. The firm has a market capitalization of $34.75 billion, a P/E ratio of 52.74, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The firm’s 50 day moving average is $231.73 and its two-hundred day moving average is $223.01.

Analyst Ratings Changes

A number of equities analysts recently weighed in on VEEV shares. Scotiabank increased their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Stephens restated an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. KeyCorp cut their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Piper Sandler increased their target price on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus lifted their target price on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $256.52.

Institutional Investors Weigh In On Veeva Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc grew its holdings in shares of Veeva Systems by 374.7% during the first quarter. Versant Capital Management Inc now owns 375 shares of the technology company’s stock worth $87,000 after purchasing an additional 296 shares during the last quarter. Cullen Investment Group LTD. acquired a new position in Veeva Systems during the first quarter worth approximately $1,724,000. MassMutual Private Wealth & Trust FSB increased its position in Veeva Systems by 61.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the technology company’s stock worth $44,000 after buying an additional 73 shares during the period. 111 Capital purchased a new stake in Veeva Systems in the fourth quarter valued at approximately $678,000. Finally, NorthCrest Asset Manangement LLC boosted its holdings in shares of Veeva Systems by 2.1% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 48,781 shares of the technology company’s stock valued at $10,256,000 after acquiring an additional 1,011 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

About Veeva Systems

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.