Veeva Systems Inc (NYSE:VEEV) hit a new 52-week high on Monday . The stock traded as high as $122.12 and last traded at $120.81, with a volume of 1012232 shares changing hands. The stock had previously closed at $120.60.
VEEV has been the topic of several research analyst reports. ValuEngine upgraded shares of Veeva Systems from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Stephens initiated coverage on shares of Veeva Systems in a research report on Wednesday, January 16th. They issued an “equal weight” rating and a $113.00 price objective on the stock. Bank of America restated a “buy” rating and issued a $120.00 price objective (up from $110.00) on shares of Veeva Systems in a research report on Thursday, November 29th. KeyCorp upped their price objective on shares of Veeva Systems from $108.00 to $114.00 and gave the stock an “overweight” rating in a research report on Thursday, November 29th. Finally, Morgan Stanley decreased their price objective on shares of Veeva Systems from $113.00 to $109.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 23rd. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Veeva Systems presently has an average rating of “Buy” and an average price target of $106.75.
The stock has a market cap of $17.55 billion, a P/E ratio of 131.32, a P/E/G ratio of 4.47 and a beta of 1.72.
In other Veeva Systems news, President Matthew J. Wallach sold 12,000 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $117.64, for a total value of $1,411,680.00. Following the completion of the transaction, the president now owns 12,000 shares in the company, valued at $1,411,680. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alan Mateo sold 538 shares of the stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $98.55, for a total value of $53,019.90. Following the completion of the transaction, the executive vice president now owns 25,167 shares of the company’s stock, valued at approximately $2,480,207.85. The disclosure for this sale can be found here. Insiders sold 182,261 shares of company stock valued at $16,898,031 in the last ninety days. 15.97% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of VEEV. Ffcm LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at $26,000. Bollard Group LLC purchased a new position in shares of Veeva Systems during the 4th quarter valued at about $27,000. Private Capital Group LLC lifted its position in shares of Veeva Systems by 508.6% during the 4th quarter. Private Capital Group LLC now owns 353 shares of the technology company’s stock valued at $32,000 after buying an additional 295 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Veeva Systems by 319.1% during the 4th quarter. Valeo Financial Advisors LLC now owns 394 shares of the technology company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Finally, Ruggie Capital Group purchased a new position in shares of Veeva Systems during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 76.68% of the company’s stock.
Veeva Systems Company Profile (NYSE:VEEV)
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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