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

Veeva Systems Inc. (NYSE:VEEVGet Free Report) was the recipient of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 1,900,000 shares, a decrease of 18.5% from the April 15th total of 2,330,000 shares. Based on an average daily volume of 929,400 shares, the days-to-cover ratio is currently 2.0 days.

Veeva Systems Trading Down 0.1 %

Shares of Veeva Systems stock traded down $0.11 on Tuesday, hitting $203.75. The stock had a trading volume of 448,397 shares, compared to its average volume of 923,627. The company’s 50 day moving average price is $214.91 and its 200 day moving average price is $202.36. The stock has a market cap of $32.87 billion, a price-to-earnings ratio of 63.28, a P/E/G ratio of 2.06 and a beta of 0.76. Veeva Systems has a 52-week low of $160.21 and a 52-week high of $236.90.

Veeva Systems (NYSE:VEEVGet Free Report) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.11. The business had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Analysts predict that Veeva Systems will post 4.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Truist Financial increased their price target on shares of Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a research report on Friday, March 1st. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Citigroup increased their price objective on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Piper Sandler boosted their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, KeyCorp upped their price target on Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Read Our Latest Report on VEEV

Insider Activity at Veeva Systems

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the sale, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,989 shares of company stock valued at $4,818,013. 10.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VEEV. Norges Bank acquired a new position in Veeva Systems in the 4th quarter valued at $305,543,000. Vanguard Group Inc. increased its stake in shares of Veeva Systems by 7.5% during the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after acquiring an additional 991,208 shares during the period. Linonia Partnership LP purchased a new position in Veeva Systems during the fourth quarter worth about $157,043,000. Invesco Ltd. lifted its position in Veeva Systems by 239.7% in the third quarter. Invesco Ltd. now owns 956,355 shares of the technology company’s stock valued at $194,570,000 after purchasing an additional 674,785 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Veeva Systems by 34.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,045,414 shares of the technology company’s stock valued at $416,139,000 after purchasing an additional 522,257 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

About Veeva Systems

(Get Free Report)

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.

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