Insider Selling: Veeva Systems Inc. (NYSE:VEEV) Insider Sells 1,200 Shares of Stock

Veeva Systems Inc. (NYSE:VEEV) insider Thomas D. Schwenger sold 1,200 shares of the 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 completion of the transaction, the insider now owns 25,889 shares in the company, valued at $5,720,692.33. The trade was a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Veeva Systems Stock Performance

Veeva Systems stock traded down $1.36 during trading hours on Tuesday, hitting $222.30. The company had a trading volume of 969,732 shares, compared to its average volume of 1,067,325. The firm has a market cap of $36.17 billion, a P/E ratio of 54.89, a P/E/G ratio of 1.89 and a beta of 1.05. The company has a 50-day moving average price of $228.78 and a two-hundred day moving average price of $223.27. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Scotiabank upped their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Finally, KeyCorp reduced their price objective on shares of 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 equities research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $256.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its position in 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 in the last quarter. Centricity Wealth Management LLC bought a new position in Veeva Systems during the 4th quarter worth about $25,000. Smithfield Trust Co increased its position in Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems in the 4th quarter worth approximately $31,000. Finally, Avion Wealth boosted its stake in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

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.