Jonathan Faddis Sells 3,598 Shares of Veeva Systems Inc. (NYSE:VEEV) Stock

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

Veeva Systems Price Performance

NYSE VEEV opened at $199.52 on Friday. The business has a fifty day moving average price of $221.54 and a two-hundred day moving average price of $202.82. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90. The stock has a market capitalization of $32.19 billion, a PE ratio of 61.96, a PEG ratio of 2.02 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last released its 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 firm had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. As a group, sell-side analysts expect that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VEEV shares. JPMorgan Chase & Co. boosted their price objective on Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a report on Wednesday, March 27th. Piper Sandler boosted their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Finally, Raymond James reiterated an “outperform” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC increased its holdings in shares of Veeva Systems by 703.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock worth $3,002,000 after buying an additional 13,654 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Veeva Systems by 5.2% during the fourth quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock worth $31,730,000 after buying an additional 8,007 shares in the last quarter. ICICI Prudential Asset Management Co Ltd increased its holdings in shares of Veeva Systems by 13.1% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company’s stock worth $9,460,000 after buying an additional 5,674 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Veeva Systems during the fourth quarter worth $2,668,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Veeva Systems by 26.3% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 98,377 shares of the technology company’s stock worth $18,953,000 after buying an additional 20,488 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.