Veeva Systems Inc. (NYSE:VEEV) Director Timothy S. Cabral Sells 3,882 Shares

Veeva Systems Inc. (NYSE:VEEV) Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Veeva Systems Trading Down 2.5 %

VEEV opened at $209.34 on Wednesday. The firm has a market cap of $34.06 billion, a price-to-earnings ratio of 51.69, a PEG ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a fifty day moving average price of $230.59 and a 200-day moving average price of $222.98.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VEEV. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. KeyCorp dropped their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Truist Financial increased 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. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Two investment 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, the company has an average rating of “Moderate Buy” and an average price target of $256.52.

Institutional Trading of Veeva Systems

Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Veeva Systems by 34.4% during the third quarter. Janus Henderson Group PLC now owns 13,824 shares of the technology company’s stock worth $2,901,000 after purchasing an additional 3,538 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Veeva Systems in the third quarter valued at approximately $1,386,000. IHT Wealth Management LLC acquired a new position in Veeva Systems in the 3rd quarter worth approximately $229,000. Finally, Point72 DIFC Ltd acquired a new stake in Veeva Systems during the 3rd quarter valued at approximately $104,000. 88.20% of the stock is owned by hedge funds and other 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.