Jonathan Faddis Sells Shares of Veeva Systems Inc.

On December 4th, 2023, Jonathan Faddis, the Senior Vice President of Veeva Systems Inc. (NYSE: VEEV - Get Free Report), sold a total of 1,694 shares of the company's stock. The transaction was completed at an average selling price of $230.30 per share, resulting in a total sale amount of $390,128.20. Following this sale, Faddis's direct ownership in Veeva Systems has decreased to 8,061 shares, which are currently valued at approximately $1,856,448.30. This recent trade reflects a decline of 17.37% in Faddis's holdings of Veeva stock. The details of this sale were made public through a filing with the Securities and Exchange Commission (SEC), which is accessible online.

In recent trading sessions, shares of Veeva Systems have seen an increase. On Friday, the stock price rose by $18.79, reaching a value of $250.45. During this trading day, the volume of shares traded was approximately 2,898,517, significantly higher than the company’s average trading volume of 973,276 shares. Over the past year, Veeva Systems has experienced a stock price range, with a low of $165.12 and a high of $258.93. The company's 50-day moving average stands at $217.50, while the 200-day moving average is at $202.61. Currently, Veeva Systems has a market capitalization of $40.56 billion, a price-to-earnings (P/E) ratio of 67.22, and a P/E growth ratio (P/E/G) of 2.20.

Analysts' Perspectives on Veeva Systems

A variety of analysts have covered Veeva Systems and provided target prices based on their assessments. Evercore ISI recently increased their price target for Veeva stock from $220.00 to $245.00, maintaining an 'in-line' rating. StockNews.com also raised their rating from 'hold' to 'buy' on November 9th. Additionally, Scotiabank adjusted their target price to $240, rating the stock as 'sector perform.' Guggenheim has set a target of $249 with a 'buy' recommendation, while UBS Group raised their target to $215, giving it a 'neutral' rating. Overall, one analyst has rated Veeva Systems as a sell, while eight have recommended holding and eighteen have rated it as a buy. According to MarketBeat, the average recommendation currently stands at 'Moderate Buy' with a target price of $254.04.

Institutional Investment Activity

Several institutional investors have been active regarding their stakes in Veeva Systems recently. Oddo BHF Asset Management acquired a new stake valued at approximately $11,770,000 in the third quarter. Meanwhile, Peapack Gladstone Financial Corp increased its holdings by 5.6% during the same period and now owns 70,147 shares valued at about $14,721,000 after adding 3,741 shares. Tidal Investments LLC made a significant move, raising their ownership by 77.1%, now holding 22,330 shares valued at $4,686,000 after buying an additional 9,724 shares. Other notable movements include new positions taken by Wilmington Savings Fund Society FSB and World Investment Advisors LLC. Currently, 88.20% of Veeva Systems stock is held by institutional investors and hedge funds.

About Veeva Systems

Veeva Systems Inc. offers cloud-based software solutions tailored for the life sciences sector. Its product suite includes Veeva Commercial Cloud, which provides customer relationship management (CRM) tools for pharmaceutical and biotechnology professionals, and Veeva Vault, which covers content and asset management needs. Additional offerings consist of Veeva Crossix, an analytics platform for pharmaceutical brands, and Veeva Link, a tool facilitating real-time intelligence. The company remains a leader in providing technological solutions specifically designed for the life sciences industry.

Veeva, Stocks, Sales