Veeva Systems Inc. (NYSE:VEEV) Insider Thomas D. Schwenger Sells 1,200 Shares

Veeva Systems Inc. (NYSE:VEEV) insider Thomas D. Schwenger sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the sale, the insider now owns 25,889 shares of the company’s stock, valued at approximately $5,720,692.33. This represents a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Veeva Systems Price Performance

Veeva Systems stock opened at $222.30 on Wednesday. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The company has a fifty day moving average price of $228.44 and a two-hundred day moving average price of $223.27. The company has a market cap of $36.17 billion, a PE ratio of 54.89, a P/E/G ratio of 1.89 and a beta of 1.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Barclays PLC boosted its position in Veeva Systems by 18.2% during the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company’s stock valued at $38,870,000 after purchasing an additional 28,497 shares during the period. Tudor Financial Inc. bought a new position in Veeva Systems during the 3rd quarter worth $265,000. Sanctuary Advisors LLC increased its position in Veeva Systems by 19.7% in the third quarter. Sanctuary Advisors LLC now owns 7,335 shares of the technology company’s stock worth $1,589,000 after buying an additional 1,206 shares during the period. Finally, World Investment Advisors LLC bought a new stake in Veeva Systems in the third quarter valued at $2,131,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

VEEV has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a report on Thursday, March 20th. Robert W. Baird increased their target price on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Stephens reissued an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Morgan Stanley increased their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research report on Thursday, March 6th. Finally, Scotiabank boosted their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $256.52.

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.