Veeva Systems Inc. (NYSE:VEEV) Short Interest Update

Veeva Systems Inc. (NYSE:VEEV) saw a large decrease in short interest in November. As of November 30th, there was short interest totalling 1,970,000 shares, a decrease of 16.2% from the November 15th total of 2,350,000 shares. Based on an average daily trading volume, of 1,010,000 shares, the short-interest ratio is presently 2.0 days.

Insider Activity at Veeva Systems

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

Institutional Trading of Veeva Systems

A number of institutional investors have recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC boosted its stake in Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after purchasing an additional 48 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Veeva Systems by 1.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after buying an additional 50 shares in the last quarter. Clearbridge Investments LLC boosted its position in Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after acquiring an additional 52 shares during the last quarter. Park Place Capital Corp grew its stake in Veeva Systems by 11.5% during the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after acquiring an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. grew its stake in Veeva Systems by 13.4% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock valued at $108,000 after acquiring an additional 61 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Down 1.6 %

NYSE:VEEV opened at $228.78 on Friday. The stock has a 50 day moving average of $221.36 and a two-hundred day moving average of $204.01. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93. The firm has a market cap of $37.14 billion, a P/E ratio of 56.49, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VEEV. Bank of America raised their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Raymond James boosted their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. TD Cowen increased their price target on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Needham & Company LLC lifted their price objective on Veeva Systems from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Robert W. Baird upped their target price on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $255.35.

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.