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

Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 787 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Veeva Systems Stock Performance

VEEV opened at $221.58 on Friday. The stock has a market cap of $36.05 billion, a price-to-earnings ratio of 54.71, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The firm’s fifty day moving average is $231.93 and its 200 day moving average is $223.03. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Analyst Upgrades and Downgrades

Several analysts have commented on VEEV shares. Robert W. Baird increased their target price on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Scotiabank increased their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Evercore ISI raised their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Finally, Barclays boosted their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $256.52.

Hedge Funds Weigh In On Veeva Systems

Large investors have recently made changes to their positions in the business. Leigh Baldwin & CO. LLC purchased a new stake in shares of Veeva Systems during the fourth quarter worth about $685,355,000. Norges Bank purchased a new stake in Veeva Systems during the 4th quarter valued at approximately $294,785,000. Principal Financial Group Inc. raised its position in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after buying an additional 1,081,501 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its position in shares of Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock worth $220,489,000 after acquiring an additional 1,045,188 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

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.