Matthew J. Wallach Sells 10,000 Shares of Veeva Systems Inc. (NYSE:VEEV) Stock

Veeva Systems Inc. (NYSE:VEEV – Get Rating) Director Matthew J. Wallach sold 10,000 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $178.56, for a total value of $1,785,600.00. Following the completion of the transaction, the director now directly owns 3,145 shares in the company, valued at approximately $561,571.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Veeva Systems Stock Down 1.9 %

Shares of NYSE:VEEV opened at $169.36 on Friday. Veeva Systems Inc. has a 52-week low of $151.02 and a 52-week high of $232.26. The stock has a market cap of $26.37 billion, a price-to-earnings ratio of 56.27, a PEG ratio of 4.02 and a beta of 0.90. The business has a 50-day moving average price of $168.79 and a 200-day moving average price of $172.14.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VEEV. JMP Securities upped their price objective on Veeva Systems from $215.00 to $230.00 and gave the company a “market outperform” rating in a research report on Thursday, March 2nd. Guggenheim downgraded Veeva Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, February 23rd. SVB Leerink dropped their price target on Veeva Systems from $242.00 to $233.00 and set an “outperform” rating on the stock in a research report on Friday, December 2nd. Robert W. Baird dropped their price target on Veeva Systems from $233.00 to $223.00 and set an “outperform” rating on the stock in a research report on Monday, February 27th. Finally, Truist Financial dropped their price target on Veeva Systems from $225.00 to $205.00 and set a “buy” rating on the stock in a research report on Thursday, March 2nd. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.83.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. CI Investments Inc. raised its stake in shares of Veeva Systems by 964.7% in the third quarter. CI Investments Inc. now owns 181 shares of the technology company’s stock worth $30,000 after purchasing an additional 164 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Veeva Systems by 143.0% during the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the technology company’s stock worth $31,000 after acquiring an additional 113 shares during the period. HM Payson & Co. grew its holdings in Veeva Systems by 400.0% during the fourth quarter. HM Payson & Co. now owns 190 shares of the technology company’s stock worth $31,000 after acquiring an additional 152 shares during the period. My Personal CFO LLC acquired a new stake in Veeva Systems during the fourth quarter worth about $33,000. Finally, Glass Jacobson Investment Advisors llc acquired a new stake in Veeva Systems during the fourth quarter worth about $33,000. 78.76% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Company Profile

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Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.