Veeva Systems Inc. (NYSE:VEEV) Short Interest Update

Veeva Systems Inc. (NYSE:VEEV) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,710,000 shares, an increase of 34.2% from the December 15th total of 2,020,000 shares. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VEEV. Scotiabank increased their price target on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Truist Financial cut their target price on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a report on Monday. Robert W. Baird lifted their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC upped their price objective on shares of Veeva Systems from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, KeyCorp reduced their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.74.

Veeva Systems Stock Performance

NYSE VEEV traded up $2.97 on Thursday, hitting $214.70. 887,766 shares of the stock traded hands, compared to its average volume of 1,030,367. The business’s fifty day moving average is $222.85 and its two-hundred day moving average is $209.19. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93. The firm has a market capitalization of $34.86 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 1.91 and a beta of 0.84.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Veeva Systems by 0.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after purchasing an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after buying an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Veeva Systems by 0.4% during the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after acquiring an additional 52 shares during the period. Finally, CHICAGO TRUST Co NA lifted its position in shares of Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after acquiring an additional 53 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Company 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.