Insider Selling: Veeva Systems Inc. (NYSE:VEEV) SVP Sells 787 Shares of Stock

Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Veeva Systems Stock Down 0.6 %

Shares of VEEV stock opened at $226.51 on Thursday. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The firm has a market cap of $36.85 billion, a PE ratio of 55.93, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The stock has a 50 day moving average of $231.96 and a 200-day moving average of $223.04.

Analyst Ratings Changes

A number of research firms have recently issued reports on VEEV. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Truist Financial lifted their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Canaccord Genuity Group boosted their target price on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Morgan Stanley raised their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $256.52.

Institutional Trading of Veeva Systems

A number of hedge funds have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB grew its position in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems in the 4th quarter worth approximately $25,000. Smithfield Trust Co grew its holdings in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC increased its position in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Finally, Avion Wealth raised its stake in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

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.