Veeva Systems (NYSE:VEEV) Insider Thomas Schwenger Sells 3,350 Shares of Stock

Veeva Systems Inc. (NYSE:VEEV) insider Thomas Schwenger sold 3,350 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $300.04, for a total value of $1,005,134.00. Following the completion of the sale, the insider directly owned 23,773 shares of the company’s stock, valued at approximately $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Veeva Systems Stock Down 1.4%

Shares of Veeva Systems stock opened at $296.47 on Friday. The company has a market cap of $48.60 billion, a PE ratio of 60.88, a price-to-earnings-growth ratio of 2.32 and a beta of 0.98. Veeva Systems Inc. has a 52 week low of $200.30 and a 52 week high of $302.00. The business has a 50 day moving average price of $281.68 and a 200-day moving average price of $262.76.

Institutional Trading of Veeva Systems

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Veeva Systems by 1.4% in the second quarter. Vanguard Group Inc. now owns 14,971,425 shares of the technology company’s stock worth $4,311,471,000 after buying an additional 210,859 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Veeva Systems by 3.7% in the second quarter. Alliancebernstein L.P. now owns 5,705,648 shares of the technology company’s stock worth $1,643,113,000 after acquiring an additional 205,997 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Veeva Systems by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company’s stock worth $1,205,372,000 after acquiring an additional 34,169 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Veeva Systems by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock worth $924,754,000 after acquiring an additional 689,700 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Veeva Systems by 2.6% in the second quarter. JPMorgan Chase & Co. now owns 3,316,274 shares of the technology company’s stock worth $955,030,000 after acquiring an additional 85,516 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on VEEV shares. Raymond James Financial reissued an “outperform” rating and issued a $340.00 price objective (up from $310.00) on shares of Veeva Systems in a research note on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Veeva Systems in a research report on Saturday, September 27th. 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. Needham & Company LLC increased their price target on Veeva Systems from $300.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Finally, Truist Financial increased their price target on Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a research report on Thursday, August 28th. Sixteen research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.