Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis Sells 787 Shares

Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of 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 represents a 8.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Veeva Systems Trading Down 0.6 %

NYSE:VEEV opened at $226.51 on Thursday. The company has a 50-day moving average of $231.96 and a 200-day moving average of $223.04. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market cap 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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VEEV. Morgan Stanley boosted their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research report on Thursday, March 6th. Evercore ISI increased their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Stephens reissued an “overweight” rating and issued a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Needham & Company LLC restated a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Canaccord Genuity Group raised their target price on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.52.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Veeva Systems in the 4th quarter worth about $25,000. Smithfield Trust Co increased its stake in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC raised its holdings in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Veeva Systems in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

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.