Veeva Systems (NYSE:VEEV) Insider Sells $1,839,720.00 in Stock

Key Points

• Veeva Systems insider Eleni Nitsa Zuppas sold 6,000 shares for a total of $1,839,720, representing a 19.15% decrease in their ownership.
• The company's stock was trading at $300.01, with a market cap of $49.17 billion and a current price-to-earnings ratio of 61.60.
• Equities analysts have given Veeva Systems an average rating of "Moderate Buy" with a price target of $307.58, with several recent upgrades to price objectives.

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) insider Eleni Nitsa Zuppas sold 6,000 shares of the company's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the completion of the transaction, the insider owned 25,325 shares of the company's stock, valued at $7,765,151.50. This trade represents a 19.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Veeva Systems Price Performance

Veeva Systems stock traded down $1.80 during mid-day trading on Thursday, hitting $300.01. The company's stock had a trading volume of 363,529 shares, compared to its average volume of 1,327,176. The stock has a market cap of $49.17 billion, a price-to-earnings ratio of 61.60, a price-to-earnings-growth ratio of 2.37 and a beta of 0.98. The business has a 50 day moving average price of $282.51 and a 200-day moving average price of $264.13. Veeva Systems Inc. has a 12 month low of $201.54 and a 12 month high of $310.50.

Institutional Investors Weigh In On Veeva Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH bought a new position in Veeva Systems in the second quarter worth approximately $29,000. Abound Financial LLC bought a new position in Veeva Systems in the first quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in Veeva Systems in the second quarter worth approximately $32,000. ORG Partners LLC bought a new position in Veeva Systems in the first quarter worth approximately $26,000. Finally, Maseco LLP bought a new position in Veeva Systems in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on VEEV shares. Raymond James Financial reaffirmed an "outperform" rating and set a $340.00 price objective (up from $310.00) on shares of Veeva Systems in a research note on Thursday, August 28th. Wells Fargo & Company upped their price objective on shares of Veeva Systems from $300.00 to $326.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Oppenheimer reiterated an "outperform" rating and set a $325.00 price target on shares of Veeva Systems in a report on Thursday, August 28th. Truist Financial increased their price target on shares of Veeva Systems from $268.00 to $275.00 and gave the company a "hold" rating in a report on Thursday, August 28th. Finally, Needham & Company LLC increased their price target on shares of Veeva Systems from $300.00 to $355.00 and gave the company a "buy" rating in a report 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and an average price target 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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