Veeva Systems Inc. (NYSE:VEEV) SVP Sells $178,019.40 in Stock

Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction that occurred on 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 owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Veeva Systems Stock Performance

NYSE:VEEV opened at $213.59 on Friday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. 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 stock has a 50 day moving average price of $231.73 and a 200 day moving average price of $223.01.

Analyst Ratings Changes

Several research firms recently commented on VEEV. Needham & Company LLC restated a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Bank of America raised their target price on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company upped their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Barclays raised their price objective on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, KeyCorp reduced their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $256.52.

Institutional Trading of Veeva Systems

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

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.