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

Veeva Systems Inc. (NYSE:VEEV) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,710,000 shares, an increase of 15.6% from the January 15th total of 3,210,000 shares. Based on an average daily volume of 1,180,000 shares, the days-to-cover ratio is presently 3.1 days.

Veeva Systems Stock Down 0.0 %

Shares of NYSE:VEEV traded down $0.06 on Monday, reaching $234.09. 853,426 shares of the company’s stock were exchanged, compared to its average volume of 1,002,875. The firm has a market capitalization of $38.00 billion, a price-to-earnings ratio of 57.80, a PEG ratio of 1.97 and a beta of 0.85. Veeva Systems has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The business’s 50-day moving average is $224.48 and its two-hundred day moving average is $216.29.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Scotiabank lifted their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. KeyCorp reduced their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Barclays lifted their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $253.96.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.50% of the stock is owned by insiders.

Institutional Trading of Veeva Systems

A number of institutional investors and hedge funds have recently modified their holdings of VEEV. NBC Securities Inc. raised its holdings in shares of Veeva Systems by 8.4% during the third quarter. NBC Securities Inc. now owns 1,347 shares of the technology company’s stock worth $282,000 after purchasing an additional 104 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Veeva Systems by 6.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 23,829 shares of the technology company’s stock worth $5,001,000 after acquiring an additional 1,380 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Veeva Systems by 11.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,476 shares of the technology company’s stock worth $939,000 after acquiring an additional 445 shares during the period. Cardinal Capital Management increased its holdings in shares of Veeva Systems by 1.5% in the 3rd quarter. Cardinal Capital Management now owns 15,683 shares of the technology company’s stock worth $3,291,000 after acquiring an additional 231 shares during the period. Finally, Net Worth Advisory Group acquired a new stake in shares of Veeva Systems in the 3rd quarter worth about $520,000. 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.