Jonathan Faddis Sells 1,694 Shares of Veeva Systems Inc. (NYSE:VEEV) Stock

Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Veeva Systems Stock Up 8.1 %

Shares of Veeva Systems stock traded up $18.79 during trading on Friday, reaching $250.45. 2,898,517 shares of the company were exchanged, compared to its average volume of 973,276. Veeva Systems Inc. has a twelve month low of $165.12 and a twelve month high of $258.93. The business has a 50-day moving average price of $217.50 and a 200-day moving average price of $202.61. The firm has a market capitalization of $40.56 billion, a price-to-earnings ratio of 67.22, a P/E/G ratio of 2.20 and a beta of 0.82.

Wall Street Analyst Weigh In

VEEV has been the subject of several analyst reports. Evercore ISI lifted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Scotiabank lifted their target price on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday. Guggenheim lifted their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, UBS Group lifted their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $254.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas acquired a new position in Veeva Systems in the third quarter valued at about $11,770,000. Peapack Gladstone Financial Corp lifted its holdings in shares of Veeva Systems by 5.6% in the third quarter. Peapack Gladstone Financial Corp now owns 70,147 shares of the technology company’s stock valued at $14,721,000 after purchasing an additional 3,741 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Veeva Systems by 77.1% in the third quarter. Tidal Investments LLC now owns 22,330 shares of the technology company’s stock valued at $4,686,000 after purchasing an additional 9,724 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Veeva Systems in the third quarter valued at about $168,000. Finally, World Investment Advisors LLC bought a new stake in shares of Veeva Systems in the third quarter valued at about $2,131,000. 88.20% of the stock is owned by institutional investors and hedge funds.

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.