Timothy S. Cabral Sells 3,882 Shares of Veeva Systems Inc. (NYSE:VEEV) Stock

Veeva Systems Inc. (NYSE:VEEV) Director Timothy S. Cabral sold 3,882 shares of the business’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Veeva Systems Stock Performance

Veeva Systems stock traded down $5.40 during mid-day trading on Tuesday, reaching $209.34. 1,378,795 shares of the company were exchanged, compared to its average volume of 1,052,794. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The business has a fifty day moving average of $231.52 and a 200 day moving average of $223.12. The firm has a market cap of $34.06 billion, a P/E ratio of 51.69, a PEG ratio of 1.89 and a beta of 1.05.

Institutional Investors Weigh In On Veeva Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. Cardinal Capital Management raised its holdings in Veeva Systems by 0.3% in the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock worth $3,307,000 after purchasing an additional 44 shares in the last quarter. Johnson Financial Group Inc. lifted its holdings in shares of Veeva Systems by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company’s stock valued at $56,000 after purchasing an additional 44 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Veeva Systems by 0.7% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock worth $1,467,000 after purchasing an additional 51 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its position in Veeva Systems by 2.9% during the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock valued at $395,000 after buying an additional 53 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VEEV. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. Scotiabank boosted their target price on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and cut their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Finally, KeyCorp decreased their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

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.