Jonathan Faddis Sells 787 Shares of Veeva Systems Inc. (NYSE:VEEV) Stock

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the transaction, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This represents a 8.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Veeva Systems Trading Down 3.6 %

VEEV stock traded down $7.90 during mid-day trading on Friday, reaching $213.59. The company's stock had a trading volume of 1,939,659 shares, compared to its average volume of 1,049,403. The stock has a market cap of $34.75 billion, a PE ratio of 52.74, a P/E/G ratio of 1.89 and a beta of 0.88. The company's 50 day moving average is $231.73 and its two-hundred day moving average is $223.01. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Institutional Investors Weigh In On Veeva Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of Veeva Systems by 3.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company's stock worth $1,086,930,000 after acquiring an additional 177,201 shares during the last quarter. State Street Corp grew its holdings in shares of Veeva Systems by 1.5% in the third quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock valued at $691,132,000 after purchasing an additional 47,872 shares during the period. Leigh Baldwin & CO. LLC acquired a new stake in Veeva Systems during the fourth quarter worth about $685,355,000. FMR LLC raised its stake in Veeva Systems by 7.8% during the fourth quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock worth $675,609,000 after purchasing an additional 232,116 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Veeva Systems by 17.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock valued at $631,935,000 after purchasing an additional 447,041 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Scotiabank lifted their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Piper Sandler lifted their target price on Veeva Systems from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. KeyCorp cut their price target on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Finally, Needham & Company LLC restated a "buy" rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $256.52.

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.