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

Veeva Systems Inc. (NYSE:VEEV) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 3,710,000 shares, a growth of 15.6% from the January 15th total of 3,210,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Scotiabank upped 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. Morgan Stanley increased their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a report on Tuesday, December 17th. Royal Bank of Canada boosted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. KeyCorp decreased their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America boosted their target price on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $253.96.

Veeva Systems Trading Down 0.0 %

Veeva Systems stock opened at $234.09 on Monday. The firm has a market capitalization of $38.00 billion, a price-to-earnings ratio of 57.80, a P/E/G ratio of 1.97 and a beta of 0.85. The firm has a 50 day simple moving average of $224.48 and a 200 day simple moving average of $216.29. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $258.93.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

Several hedge funds have recently made changes to their positions in VEEV. NBC Securities Inc. grew its holdings in Veeva Systems by 8.4% during the 3rd quarter. NBC Securities Inc. now owns 1,347 shares of the technology company’s stock valued at $282,000 after buying an additional 104 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Veeva Systems by 6.1% in the third quarter. Vontobel Holding Ltd. now owns 23,829 shares of the technology company’s stock valued at $5,001,000 after acquiring an additional 1,380 shares during the period. Bleakley Financial Group LLC grew its stake in Veeva Systems by 11.0% during the third quarter. Bleakley Financial Group LLC now owns 4,476 shares of the technology company’s stock valued at $939,000 after acquiring an additional 445 shares in the last quarter. Cardinal Capital Management increased its holdings in Veeva Systems by 1.5% during the 3rd quarter. Cardinal Capital Management now owns 15,683 shares of the technology company’s stock worth $3,291,000 after acquiring an additional 231 shares during the period. Finally, Net Worth Advisory Group bought a new stake in Veeva Systems during the 3rd quarter worth approximately $520,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

About Veeva Systems

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.