Veeva Systems Inc. (NYSE:VEEV) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC decreased its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 848,207 shares of the technology company's stock after selling 9,448 shares during the period. AQR Capital Management LLC owned 0.52% of Veeva Systems worth $178,336,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Veeva Systems by 72.5% during the 4th 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 period. Centricity Wealth Management LLC purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $25,000. Smithfield Trust Co grew its stake in shares of Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after buying an additional 80 shares during the last quarter. Avion Wealth raised its holdings in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after buying an additional 127 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insider Buying and Selling at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the sale, the director now owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the transaction, the insider now directly owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. This trade represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Piper Sandler cut their price objective on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC restated a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Scotiabank lifted their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a report on Thursday, March 6th. Robert W. Baird upped their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Finally, Morgan Stanley raised their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.92.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded up $4.56 during mid-day trading on Friday, hitting $236.63. The stock had a trading volume of 632,061 shares, compared to its average volume of 1,079,480. The firm has a market cap of $38.50 billion, a PE ratio of 58.43, a PEG ratio of 1.89 and a beta of 1.05. The company has a 50 day moving average of $226.53 and a two-hundred day moving average of $224.71. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month 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.