4D Advisors LLC Takes $4.21 Million Position in Veeva Systems Inc. (NYSE:VEEV)

4D Advisors LLC acquired a new position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,000 shares of the technology company's stock, valued at approximately $4,205,000. Veeva Systems accounts for about 2.9% of 4D Advisors LLC's holdings, making the stock its 13th biggest position.

Several other hedge funds also recently modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB raised its stake in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Veeva Systems during the 4th quarter valued at $25,000. Smithfield Trust Co lifted its stake in Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after acquiring an additional 80 shares in the last quarter. Avion Wealth boosted its holdings in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after acquiring an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems in the 4th quarter worth $31,000. Institutional investors own 88.20% of the company's stock.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. The trade was a 4.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. The trade was a 8.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock worth $1,284,917 over the last quarter. 10.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial upped their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research report on Thursday, March 6th. Scotiabank upped their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Robert W. Baird increased their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Finally, Piper Sandler dropped their price objective on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and an average target price of $254.92.

Veeva Systems Stock Down 1.7 %

Shares of NYSE VEEV traded down $4.03 during midday trading on Tuesday, hitting $232.96. The stock had a trading volume of 731,516 shares, compared to its average volume of 1,199,589. The company has a market cap of $37.90 billion, a P/E ratio of 57.52, a PEG ratio of 1.89 and a beta of 0.96. The business's 50 day moving average is $226.72 and its 200-day moving average is $224.87. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

Veeva Systems 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.