Veeva Systems Inc. (NYSE:VEEV) Short Interest Up 34.2% in December

Veeva Systems Inc. (NYSE:VEEV) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,710,000 shares, an increase of 34.2% from the December 15th total of 2,020,000 shares. Based on an average daily trading volume, of 1,090,000 shares, the short-interest ratio is currently 2.5 days.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

Several large investors have recently added to or reduced their stakes in VEEV. 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 valued at $25,000 after purchasing an additional 50 shares in the last quarter. Seilern Investment Management Ltd bought a new stake in Veeva Systems during the 4th quarter valued at approximately $94,957,000. Diversify Wealth Management LLC grew its holdings in shares of Veeva Systems by 3.3% during the 4th quarter. Diversify Wealth Management LLC now owns 10,496 shares of the technology company’s stock worth $2,286,000 after acquiring an additional 335 shares during the period. Trust Co. of Vermont raised its position in shares of Veeva Systems by 157.8% in the 4th quarter. Trust Co. of Vermont now owns 1,111 shares of the technology company’s stock worth $234,000 after acquiring an additional 680 shares in the last quarter. Finally, CGN Advisors LLC boosted its position in shares of Veeva Systems by 11.4% during the fourth quarter. CGN Advisors LLC now owns 11,406 shares of the technology company’s stock valued at $2,398,000 after purchasing an additional 1,168 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on VEEV. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Canaccord Genuity Group lifted their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Evercore ISI increased their target price on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Scotiabank raised their price target on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Finally, Stephens started coverage on Veeva Systems in a report on Friday, December 20th. They issued an “overweight” rating and a $280.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.74.

Veeva Systems Trading Up 1.4 %

Shares of VEEV stock traded up $2.97 during trading hours on Thursday, reaching $214.70. The company’s stock had a trading volume of 887,766 shares, compared to its average volume of 1,030,367. Veeva Systems has a one year low of $170.25 and a one year high of $258.93. The stock has a market capitalization of $34.86 billion, a P/E ratio of 53.01, a P/E/G ratio of 1.91 and a beta of 0.84. The firm’s fifty day simple moving average is $222.85 and its 200 day simple moving average is $209.19.

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.