Jonathan Faddis Sells 720 Shares of Veeva Systems (NYSE:VEEV) Stock

Key Points

• Jonathan Faddis, SVP of Veeva Systems, sold 720 shares of the company stock at an average price of $298.12, totaling $214,646.40, which represents an 8.38% decrease in his ownership.
• Veeva Systems shares experienced a 1.4% decline on the trading day, closing at $301.85, with a market capitalization of $49.48 billion.
• Institutional investors own 88.20% of Veeva Systems stock, with multiple hedge funds increasing their positions in the company during the first quarter.

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $298.12, for a total value of $214,646.40. Following the completion of the sale, the senior vice president owned 7,868 shares in the company, valued at approximately $2,345,608.16. This trade represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, October 2nd, Jonathan Faddis sold 14,595 shares of Veeva Systems stock. The shares were sold at an average price of $300.00, for a total value of $4,378,500.00.
• 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 value of $205,646.40.

Veeva Systems Trading Down 1.4%

Shares of NYSE:VEEV traded down $4.37 on Wednesday, hitting $301.85. The company had a trading volume of 1,116,468 shares, compared to its average volume of 1,330,348. Veeva Systems Inc. has a 52-week low of $201.54 and a 52-week high of $310.50. The business has a 50 day moving average of $282.21 and a 200 day moving average of $263.86. The company has a market cap of $49.48 billion, a PE ratio of 61.98, a PEG ratio of 2.32 and a beta of 0.98.

Institutional Trading of Veeva Systems

Several hedge funds have recently made changes to their positions in VEEV. Wedmont Private Capital increased its position in Veeva Systems by 4.1% in the 1st quarter. Wedmont Private Capital now owns 2,200 shares of the technology company's stock valued at $480,000 after acquiring an additional 87 shares during the period. CHICAGO TRUST Co NA increased its position in Veeva Systems by 17.3% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,205 shares of the technology company's stock valued at $511,000 after acquiring an additional 325 shares during the period. Pallas Capital Advisors LLC increased its position in Veeva Systems by 11.1% in the 1st quarter. Pallas Capital Advisors LLC now owns 2,627 shares of the technology company's stock valued at $608,000 after acquiring an additional 262 shares during the period. GAMMA Investing LLC increased its position in Veeva Systems by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company's stock valued at $422,000 after acquiring an additional 221 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Veeva Systems by 226.2% during the 1st quarter. SG Americas Securities LLC now owns 44,983 shares of the technology company's stock valued at $10,419,000 after purchasing an additional 31,191 shares during the period. Institutional investors own 88.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on VEEV shares. Morgan Stanley upped their price target on Veeva Systems from $210.00 to $222.00 and gave the stock an "underweight" rating in a research note on Thursday, August 28th. Canaccord Genuity Group upped their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a "hold" rating in a research note on Thursday, August 28th. Needham & Company LLC upped their price target on Veeva Systems from $300.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. UBS Group increased their target price on Veeva Systems from $285.00 to $310.00 and gave the company a "neutral" rating in a research note on Thursday, August 28th. Finally, Barclays increased their target price on Veeva Systems from $300.00 to $325.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of "Moderate Buy" and an average target price of $307.58.

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.

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