Insider Selling: Veeva Systems Inc. (NYSE:VEEV) SVP Sells 3,598 Shares of Stock

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Veeva Systems Price Performance

Shares of NYSE VEEV traded down $1.19 during midday trading on Wednesday, reaching $199.18. 1,033,467 shares of the company traded hands, compared to its average volume of 990,381. The company has a market cap of $32.13 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 2.04 and a beta of 0.74. The stock has a 50-day moving average price of $222.17 and a 200 day moving average price of $202.87. Veeva Systems Inc. has a 52 week low of $160.21 and a 52 week high of $236.90.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. The firm had revenue of $630.62 million for the quarter, compared to analysts' expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. As a group, analysts expect that Veeva Systems Inc. will post 4.11 EPS for the current year.

Institutional Investors Weigh In On Veeva Systems

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Veeva Systems in the 4th quarter worth approximately $259,703,000. Wellington Management Group LLP boosted its holdings in Veeva Systems by 1,578.4% during the first quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company's stock worth $319,616,000 after buying an additional 1,414,726 shares in the last quarter. Linonia Partnership LP acquired a new position in Veeva Systems in the fourth quarter worth approximately $157,043,000. Invesco Ltd. increased its holdings in shares of Veeva Systems by 239.7% in the third quarter. Invesco Ltd. now owns 956,355 shares of the technology company's stock valued at $194,570,000 after buying an additional 674,785 shares in the last quarter. Finally, Viking Global Investors LP bought a new position in shares of Veeva Systems in the fourth quarter valued at $111,614,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their target price on Veeva Systems from $219.00 to $248.00 and gave the stock a "buy" rating in a report on Friday, March 1st. Barclays boosted their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company an "overweight" rating in a research note on Friday, March 1st. Truist Financial increased their target price on shares of Veeva Systems from $187.00 to $203.00 and gave the stock a "hold" rating in a report on Friday, March 1st. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $205.00 to $250.00 and gave the company a "buy" rating in a report on Friday, March 1st. Finally, Piper Sandler increased their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an "overweight" rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $234.90.

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.