Jonathan Faddis, Senior Vice President, General Counsel, and Secretary at Veeva Systems Inc. (NYSE:VEEV), a $40.56 billion market cap company trading near its 52-week high, has recently sold shares of the company. According to InvestingPro analysis, the stock has gained over 25% in the past six months. According to a recent SEC filing, Faddis sold 1,694 shares of Veeva Systems' Class A Common Stock on December 4, 2024, at a price of $230.30 per share. The total transaction amounted to $390,128. Following this sale, Faddis retains ownership of 8,061 shares in the company. The transaction was conducted under a Rule 10b5-1 trading plan, which was adopted on December 21, 2023. With an excellent financial health score and strong profitability metrics according to InvestingPro, investors can access detailed analysis and 13 additional ProTips through the platform's comprehensive research reports.
In other recent news, Veeva Systems has been the focus of several financial firms following its impressive Q3 results. The company's subscription revenue and billings for the quarter were reported at $581 million and $476 million, respectively. RBC (TSX:RY) Capital maintained its Outperform rating on the stock and increased the price target to $285. Needham also lifted its target to $270, maintaining a buy rating.
Stifel raised its target for Veeva Systems to $272, also preserving a buy rating. Truist Securities increased its target to $261, keeping a hold rating. BofA Securities revised its price target to $290, maintaining a neutral rating. Canaccord Genuity (TSX:CF) adjusted its price target to $270, also maintaining a hold rating.
Veeva Systems reported significant Q3 achievements, including new Vault CRM customers and potential strategic development cloud relationships with major pharmaceutical companies. The company's growth was noted to be well-balanced across its R&D and Commercial divisions. These are recent developments in the financial analysis of Veeva Systems.
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