Veeva Systems Inc. (NYSE:VEEV) Insider Sells $265,164.00 in Stock

Veeva Systems Inc. (NYSE:VEEV) insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider now directly owns 25,889 shares of the company’s stock, valued at approximately $5,720,692.33. This trade represents a 4.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Veeva Systems Stock Performance

Shares of VEEV stock traded down $1.36 during mid-day trading on Tuesday, hitting $222.30. The company’s stock had a trading volume of 969,732 shares, compared to its average volume of 1,067,325. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a market cap of $36.17 billion, a price-to-earnings ratio of 54.89, a PEG ratio of 1.89 and a beta of 1.05. The business has a 50-day moving average price of $228.78 and a 200 day moving average price of $223.27.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Morgan Stanley lifted their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research report on Thursday, March 6th. Stephens restated an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Finally, StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $256.52.

Hedge Funds Weigh In On Veeva Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Barclays PLC boosted its stake in shares of Veeva Systems by 18.2% in the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company’s stock worth $38,870,000 after buying an additional 28,497 shares during the last quarter. Tudor Financial Inc. bought a new stake in shares of Veeva Systems in the third quarter worth $265,000. Sanctuary Advisors LLC increased its position in Veeva Systems by 19.7% during the third quarter. Sanctuary Advisors LLC now owns 7,335 shares of the technology company’s stock valued at $1,589,000 after acquiring an additional 1,206 shares during the last quarter. Finally, World Investment Advisors LLC bought a new position in Veeva Systems in the third quarter valued at about $2,131,000. Institutional investors 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.