Jonathan Faddis Sells 14,595 Shares of Veeva Systems (NYSE:VEEV) Stock

Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 14,595 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total transaction of $4,378,500.00. Following the completion of the sale, the senior vice president directly owned 8,588 shares in the company, valued at approximately $2,576,400. This represents a 62.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Jonathan Faddis also recently made the following trade(s):

• On Thursday, July 10th, Jonathan Faddis sold 720 shares of Veeva Systems stock. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40.

Veeva Systems Stock Down 1.4%

Shares of Veeva Systems stock opened at $296.47 on Friday. Veeva Systems Inc. has a twelve month low of $200.30 and a twelve month high of $302.00. The stock has a market cap of $48.60 billion, a price-to-earnings ratio of 60.88, a P/E/G ratio of 2.32 and a beta of 0.98. The company’s fifty day moving average is $281.68 and its 200 day moving average is $262.76.

Hedge Funds Weigh In On Veeva Systems

Institutional investors have recently made changes to their positions in the stock. Abound Financial LLC acquired a new position in shares of Veeva Systems during the first quarter valued at about $25,000. ORG Partners LLC acquired a new position in shares of Veeva Systems during the first quarter valued at about $26,000. Trust Co. of Toledo NA OH acquired a new position in shares of Veeva Systems during the second quarter valued at about $29,000. Golden State Wealth Management LLC raised its holdings in shares of Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Veeva Systems during the first quarter valued at about $32,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the topic of several analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $340.00 price objective (up previously from $310.00) on shares of Veeva Systems in a research note on Thursday, August 28th. Canaccord Genuity Group boosted their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, August 28th. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $325.00 price target on shares of Veeva Systems in a research report on Thursday, August 28th. Finally, Wells Fargo & Company upped their price target on shares of Veeva Systems from $300.00 to $326.00 and gave the company an “overweight” rating in a research report on Tuesday, August 26th. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $303.67.

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.