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 firm’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 sale, the director now directly owns 5,500 shares in the company, valued at approximately $1,192,565. This trade represents a 41.38 % 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 Price Performance

Veeva Systems stock traded down $5.40 during midday trading on Tuesday, reaching $209.34. 1,378,795 shares of the company traded hands, 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 50 day moving average of $231.52 and a two-hundred day moving average of $223.12. The firm has a market capitalization of $34.06 billion, a price-to-earnings ratio of 51.69, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VEEV. JPMorgan Chase & Co. boosted 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. Citigroup boosted their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial raised their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research note on Thursday, March 6th. Stephens reissued an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Robert W. Baird raised their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

Hedge Funds Weigh In On Veeva Systems

A number of institutional investors and hedge funds have recently modified their holdings of VEEV. J2 Capital Management Inc purchased a new position in Veeva Systems in the first quarter worth about $441,000. GAMMA Investing LLC grew its position in shares of Veeva Systems by 26,258.4% during the 1st quarter. GAMMA Investing LLC now owns 422,261 shares of the technology company’s stock valued at $97,808,000 after acquiring an additional 420,659 shares during the period. Bath Savings Trust Co increased its stake in shares of Veeva Systems by 72.2% in the 1st quarter. Bath Savings Trust Co now owns 30,834 shares of the technology company’s stock worth $7,142,000 after purchasing an additional 12,931 shares in the last quarter. Versant Capital Management Inc lifted its position in Veeva Systems by 374.7% during the first quarter. Versant Capital Management Inc now owns 375 shares of the technology company’s stock valued at $87,000 after purchasing an additional 296 shares in the last quarter. Finally, Cullen Investment Group LTD. purchased a new position in shares of Veeva Systems during the 1st quarter valued at about $1,724,000. 88.20% of the stock is currently owned by hedge funds and other 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.