Jonathan Faddis Sells 720 Shares of Veeva Systems (NYSE:VEEV) Stock

Veeva Systems Inc. (NYSE:VEEV) SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction on Monday, October 6th. The shares were sold at an average price of $298.12, for a total value of $214,646.40. Following the sale, the senior vice president directly owned 7,868 shares of the company’s stock, valued at approximately $2,345,608.16. The trade was a 8.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Jonathan Faddis also recently made the following trade(s):

• On Thursday, October 2nd, Jonathan Faddis sold 14,595 shares of Veeva Systems stock. The shares were sold at an average price of $300.00, for a total value of $4,378,500.00.
• On Thursday, July 10th, Jonathan Faddis sold 720 shares of Veeva Systems stock. The shares were sold at an average price of $285.62, for a total value of $205,646.40.

Veeva Systems Trading Down 1.1%

VEEV opened at $298.42 on Friday. The stock has a market cap of $48.91 billion, a price-to-earnings ratio of 61.28, a PEG ratio of 2.33 and a beta of 0.98. Veeva Systems Inc. has a 1 year low of $201.54 and a 1 year high of $310.50. The stock has a fifty day moving average price of $282.79 and a 200 day moving average price of $264.53.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors have recently bought and sold shares of VEEV. Abound Financial LLC bought a new position in shares of Veeva Systems in the first quarter worth about $25,000. ORG Partners LLC bought a new position in shares of Veeva Systems in the first quarter worth about $26,000. Trust Co. of Toledo NA OH acquired a new stake in Veeva Systems during the second quarter worth about $29,000. Golden State Wealth Management LLC grew its position in Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in Veeva Systems during the first quarter worth about $32,000. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VEEV. Barclays lifted their price objective on Veeva Systems from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Veeva Systems in a research report on Wednesday. TD Cowen raised Veeva Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $297.00 to $380.00 in a research report on Tuesday. Morgan Stanley raised their target price on Veeva Systems from $210.00 to $222.00 and gave the company an “underweight” rating in a report on Thursday, August 28th. Finally, Mizuho raised their target price on Veeva Systems from $295.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $307.58.

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.