Director Paul Edward Chamberlain and CEO Peter P. Gassner sold a total of 97,224 shares of Veeva Systems Inc.’s stock over the past three months. Insiders own 13.23% of the company’s stock. Veeva Systems’ stock is currently down by 1.8%. The company has a market cap of $26.88 billion, and 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.
Perigon Wealth Management LLC Raises Stake in Veeva Systems Inc.
Perigon Wealth Management LLC recently increased its stake in Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 31.3% during the 3rd quarter, according to its latest filing with the Securities and Exchange Commission. The move follows similar actions taken by several other institutional investors and hedge funds.
Other Institutional Investors Modify Holdings of VEEV
MetLife Investment Management LLC purchased a new position in Veeva Systems shares in the first quarter of the year, worth approximately $1,906,000. Dimensional Fund Advisors LP also boosted its stake in the technology company by 1.8% during the same period, while Sequoia Financial Advisors LLC and National Pension Service increased their stakes by 11.5% and 3.0%, respectively. Vanguard Group Inc. also raised its stake by 1.0%. Overall, hedge funds and institutional investors now own 78.76% of Veeva Systems’ stock.
Analysts Weigh In
Several analysts have recently commented on Veeva Systems. KeyCorp lowered their price target for the stock from $210.00 to $200.00 and gave it an “overweight” rating. Needham & Company LLC reiterated a “buy” rating and set a price target of $220.00, while Guggenheim downgraded the company from a “buy” rating to a “neutral” rating. Barclays reduced their price objective to $197.00 and set an “overweight” rating for the company, while UBS Group lowered their price objective to $190.00 and set a “neutral” rating. Currently, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $204.39.
Insider Transactions
As of now, no information about insider transactions has been provided.
Director Paul Edward Chamberlain sold 160 shares of Veeva Systems Inc.’s (NYSE:VEEV) stock on March 10th, according to a legal filing with the Securities and Exchange Commission. The shares were sold at an average price of $169.42, totaling $27,107.20. Following the transaction, Chamberlain owns 16,776 shares in the company, valued at $2,842,189.92. Meanwhile, CEO Peter P. Gassner sold 28,506 shares of the company’s stock on January 3rd at an average price of $159.77, for a total value of $4,554,403.62. Over the last three months, insiders have sold a total of 97,224 shares of the company’s stock, worth $16,003,460. At present, insiders own 13.23% of the company’s stock.
Veeva Systems Inc. Stock Down by 1.8%
Veeva Systems Inc. (NYSE:VEEV) opened at $172.63 on Friday. The company has a market cap of $26.88 billion, a price-to-earnings ratio of 57.35, a price-to-earnings-growth ratio of 3.92, and a beta of 0.90. VEEV has a fifty-two week low of $151.02 and a fifty-two week high of $232.26. The stock has a fifty-day moving average of $169.92 and a 200-day moving average of $170.24.
Veeva Systems Inc. Profile
Veeva Systems, Inc. provides industry cloud solutions for the global life sciences industry. Its solutions allow pharmaceutical and other life sciences companies to use modern cloud-based architectures and mobile applications for their most critical business functions while complying with industry-specific regulations.
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