Veeva Systems (NYSE:VEEV) Insider Thomas Schwenger Sells 3,350 Shares

Veeva Systems Inc. (NYSE:VEEV) insider Thomas Schwenger sold 3,350 shares of Veeva Systems stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the sale, the insider directly owned 23,773 shares in the company, valued at $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Veeva Systems Trading Down 1.4%

Shares of Veeva Systems stock opened at $296.47 on Friday. The firm has a market capitalization of $48.60 billion, a PE ratio of 60.88, a price-to-earnings-growth ratio of 2.29 and a beta of 0.98. The firm’s 50 day moving average is $281.68 and its 200 day moving average is $262.93. Veeva Systems Inc. has a 1 year low of $200.30 and a 1 year high of $302.00.

Institutional Investors Weigh In On Veeva Systems

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Veeva Systems by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 14,971,425 shares of the technology company’s stock valued at $4,311,471,000 after purchasing an additional 210,859 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Veeva Systems by 3.7% during the 2nd quarter. Alliancebernstein L.P. now owns 5,705,648 shares of the technology company’s stock valued at $1,643,113,000 after acquiring an additional 205,997 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Veeva Systems by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company’s stock valued at $1,205,372,000 after acquiring an additional 34,169 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Veeva Systems by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock valued at $924,754,000 after acquiring an additional 689,700 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Veeva Systems by 2.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,316,274 shares of the technology company’s stock valued at $955,030,000 after acquiring an additional 85,516 shares during the period. 88.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VEEV shares. Citigroup boosted their target price on shares of Veeva Systems from $329.00 to $349.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. raised shares of Veeva Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $290.00 to $330.00 in a report on Monday, September 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Veeva Systems in a report on Saturday, September 27th. BTIG Research boosted their target price on shares of Veeva Systems from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Finally, Barclays boosted their target price on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $303.67.

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.