Veeva Systems Inc. (NYSE:VEEV - Get Free Report) Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following 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 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
Shares of VEEV stock opened at $209.34 on Wednesday. The company has a market capitalization of $34.06 billion, a PE ratio of 51.69, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The firm's 50-day moving average is $230.59 and its two-hundred day moving average is $222.98. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.
Institutional Trading of Veeva Systems
Several institutional investors have recently made changes to their positions in the company. J2 Capital Management Inc purchased a new position in Veeva Systems in the first quarter worth approximately $441,000. GAMMA Investing LLC increased its holdings in Veeva Systems by 26,258.4% in the 1st quarter. GAMMA Investing LLC now owns 422,261 shares of the technology company's stock valued at $97,808,000 after purchasing an additional 420,659 shares during the last quarter. Bath Savings Trust Co raised its position in Veeva Systems by 72.2% in the first quarter. Bath Savings Trust Co now owns 30,834 shares of the technology company's stock valued at $7,142,000 after purchasing an additional 12,931 shares during the period. Versant Capital Management Inc lifted its stake in Veeva Systems by 374.7% during the first quarter. Versant Capital Management Inc now owns 375 shares of the technology company's stock worth $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 first quarter worth $1,724,000. Hedge funds and other institutional investors own 88.20% of the company's stock.
Analysts Set New Price Targets
VEEV has been the topic of a number of analyst reports. Truist Financial raised their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. Stephens reaffirmed an "overweight" rating and issued a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. JPMorgan Chase & Co. lifted their price target 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, KeyCorp lowered their price target on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $256.52.
Check Out Our Latest Stock Report on Veeva Systems
About Veeva Systems
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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.
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