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

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

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $228.78 on Monday. Veeva Systems has a 1 year low of $170.25 and a 1 year high of $258.93. The company has a market capitalization of $37.14 billion, a P/E ratio of 56.49, a P/E/G ratio of 2.03 and a beta of 0.82. The business has a 50 day moving average price of $221.36 and a 200 day moving average price of $204.03.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on 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 owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

Several institutional investors have recently made changes to their positions in the stock. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Veeva Systems during the 3rd quarter worth $26,000. True Wealth Design LLC boosted its position 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 purchasing an additional 135 shares during the period. Blue Trust Inc. boosted its position in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after buying an additional 173 shares during the last quarter. DT Investment Partners LLC acquired a new stake in shares of Veeva Systems during the second quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Veeva Systems during the third quarter valued at about $49,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial reaffirmed a “hold” rating and issued a $261.00 price target (up from $207.00) on shares of Veeva Systems in a research note on Friday, December 6th. Guggenheim upped their price target on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Robert W. Baird upped their price target on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Raymond James upped their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Piper Sandler upped their price target on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.