Veeva Systems (NYSE:VEEV) SVP Sells $4,378,500.00 in Stock

Key Points

• SVP Jonathan Faddis sold 14,595 shares of Veeva Systems stock for a total value of $4,378,500, marking a 62.96% reduction in his position.
• The stock has experienced a price decline, trading down to $296.47, with a market capitalization of $48.59 billion and a consensus price target of $303.67.
• Analysts have recently upgraded Veeva's rating, with predictions for its stock price rising from $290.00 to $330.00 by JPMorgan and a majority rating of Buy from sixteen analysts.

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) SVP Jonathan Faddis sold 14,595 shares of the company's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $300.00, for a total value of $4,378,500.00. Following the completion of the transaction, the senior vice president directly owned 8,588 shares of the company's stock, valued at approximately $2,576,400. This trade represents a 62.96% decrease in their position. 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, July 10th, Jonathan Faddis sold 720 shares of Veeva Systems stock. The shares were sold at an average price of $285.62, for a total value of $205,646.40.

Veeva Systems Stock Performance

Shares of VEEV stock traded down $4.32 during trading hours on Friday, hitting $296.47. The company had a trading volume of 1,845,540 shares, compared to its average volume of 1,329,670. Veeva Systems Inc. has a 12 month low of $200.30 and a 12 month high of $302.00. The firm has a market capitalization of $48.59 billion, a price-to-earnings ratio of 60.88, a PEG ratio of 2.26 and a beta of 0.98. The firm's fifty day moving average is $281.57 and its 200 day moving average is $262.34.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upgraded Veeva Systems from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $290.00 to $330.00 in a research report on Monday, September 8th. BTIG Research increased their price target on Veeva Systems from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Weiss Ratings restated a "hold (c+)" rating on shares of Veeva Systems in a research report on Saturday, September 27th. UBS Group increased their price target on Veeva Systems from $285.00 to $310.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Finally, Evercore ISI increased their price target on Veeva Systems from $285.00 to $295.00 and gave the stock an "in-line" rating in a research report on Thursday, August 28th. Sixteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $303.67.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Abound Financial LLC acquired a new position in shares of Veeva Systems in the 1st quarter valued at $25,000. ORG Partners LLC acquired a new position in shares of Veeva Systems in the 1st quarter valued at $26,000. Trust Co. of Toledo NA OH acquired a new position in shares of Veeva Systems in the 2nd quarter valued at $29,000. Golden State Wealth Management LLC raised its stake in Veeva Systems by 152.9% during the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock worth $30,000 after buying an additional 78 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in Veeva Systems during the 1st quarter worth $32,000. Institutional investors and hedge funds own 88.20% of the company's stock.

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.

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