Veeva Systems Inc. (NYSE:VEEV) SVP Sells $746,297.16 in Stock

Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Veeva Systems Price Performance

VEEV stock opened at $198.37 on Friday. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $236.90. The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 2.01 and a beta of 0.74. The business has a 50 day simple moving average of $221.17 and a two-hundred day simple moving average of $202.80.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. The business had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Sell-side analysts anticipate that Veeva Systems Inc. will post 4.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Piper Sandler upped their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price objective on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Stifel Nicolaus boosted their price objective on Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Raymond James reiterated an “outperform” rating and set a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $234.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VEEV. Norges Bank bought a new position in shares of Veeva Systems during the 4th quarter valued at approximately $259,703,000. Wellington Management Group LLP boosted its position in shares of Veeva Systems by 1,578.4% during the 1st quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock valued at $319,616,000 after acquiring an additional 1,414,726 shares during the last quarter. Linonia Partnership LP bought a new position in shares of Veeva Systems during the 4th quarter valued at approximately $157,043,000. Invesco Ltd. boosted its position in shares of Veeva Systems by 239.7% during the 3rd quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock valued at $194,570,000 after acquiring an additional 674,785 shares during the last quarter. Finally, Viking Global Investors LP bought a new position in shares of Veeva Systems during the 4th quarter valued at approximately $111,614,000. 88.20% of the stock is currently owned by 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.