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

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) was the target of a significant drop in short interest in 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 daily volume of 1,010,000 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Upgrades and Downgrades

VEEV has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Veeva Systems from $240.00 to $272.00 and gave the company a "buy" rating in a report on Friday, December 6th. Piper Sandler upped their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Needham & Company LLC raised their price objective on shares of Veeva Systems from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Raymond James increased their price objective on Veeva Systems from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Finally, Guggenheim lifted their target price on Veeva Systems from $233.00 to $249.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $255.35.

Veeva Systems Stock Performance

NYSE VEEV traded down $3.70 during trading on Friday, reaching $228.78. The company's stock had a trading volume of 814,087 shares, compared to its average volume of 983,160. The business's fifty day moving average price is $221.36 and its 200-day moving average price is $204.00. Veeva Systems has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market cap of $37.05 billion, a price-to-earnings ratio of 56.49, a P/E/G ratio of 2.07 and a beta of 0.82.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company's stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 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 owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. 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 and hedge funds have recently added to or reduced their stakes in the stock. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems in the third quarter valued at about $26,000. True Wealth Design LLC lifted its holdings in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after buying an additional 135 shares during the period. Blue Trust Inc. boosted its stake in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock valued at $33,000 after buying an additional 173 shares in the last quarter. DT Investment Partners LLC acquired a new position in Veeva Systems during the second quarter worth $35,000. Finally, Fairscale Capital LLC purchased a new position in Veeva Systems in the second quarter worth $46,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

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.