Veeva Systems Inc. $VEEV Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,725 shares of the technology company’s stock after selling 644 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Veeva Systems were worth $7,120,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. TFB Advisors LLC raised its position in Veeva Systems by 1.2% during the 1st quarter. TFB Advisors LLC now owns 3,586 shares of the technology company’s stock worth $831,000 after buying an additional 44 shares during the last quarter. Triangle Securities Wealth Management raised its position in Veeva Systems by 0.8% during the 2nd quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company’s stock worth $1,665,000 after buying an additional 45 shares during the last quarter. Marks Group Wealth Management Inc raised its position in Veeva Systems by 3.3% during the 1st quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company’s stock worth $331,000 after buying an additional 46 shares during the last quarter. Harbour Investments Inc. raised its position in Veeva Systems by 7.6% during the 1st quarter. Harbour Investments Inc. now owns 789 shares of the technology company’s stock worth $183,000 after buying an additional 56 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Veeva Systems by 4.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company’s stock worth $356,000 after buying an additional 56 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 3,350 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the completion of the sale, the insider owned 23,773 shares of the company’s stock, valued at $7,132,850.92. This represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 14,595 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $300.00, for a total transaction of $4,378,500.00. Following the sale, the senior vice president directly owned 8,588 shares of the company’s stock, valued at $2,576,400. The trade was a 62.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,665 shares of company stock valued at $5,589,280 in the last ninety days. Insiders own 10.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VEEV. Weiss Ratings reissued a “hold (c+)” rating on shares of Veeva Systems in a research report on Saturday, September 27th. Raymond James Financial reissued an “outperform” rating and set a $340.00 price target (up from $310.00) on shares of Veeva Systems in a research report on Thursday, August 28th. JPMorgan Chase & Co. raised shares of Veeva Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $290.00 to $330.00 in a report on Monday, September 8th. Stifel Nicolaus lifted their target price on shares of Veeva Systems from $295.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Finally, Truist Financial lifted their target price on shares of Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a report on Thursday, August 28th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $303.67.

Veeva Systems Stock Down 1.4%

VEEV opened at $296.47 on Monday. The company has a market cap of $48.59 billion, a price-to-earnings ratio of 60.88, a PEG ratio of 2.29 and a beta of 0.98. Veeva Systems Inc. has a 52-week low of $200.30 and a 52-week high of $302.00. The firm’s fifty day simple moving average is $281.68 and its two-hundred day simple moving average is $263.13.

Veeva Systems Profile

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.