Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. decreased its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 277,929 shares of the technology company's stock after selling 98,120 shares during the period. Baird Financial Group Inc. owned 0.17% of Veeva Systems worth $58,435,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cardinal Capital Management lifted its holdings in Veeva Systems by 0.3% during the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock valued at $3,307,000 after buying an additional 44 shares in the last quarter. Johnson Financial Group Inc. lifted its holdings in shares of Veeva Systems by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock valued at $56,000 after buying an additional 44 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after buying an additional 50 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Veeva Systems by 0.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock worth $1,467,000 after buying an additional 51 shares during the period. Finally, CHICAGO TRUST Co NA lifted its stake in Veeva Systems by 2.9% in the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock valued at $395,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Insiders Place Their Bets

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now owns 5,500 shares of the company's stock, valued at $1,192,565. This trade represents a 41.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jonathan Faddis sold 787 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock worth $1,284,917 in the last three months. 10.50% of the stock is owned by insiders.

Veeva Systems Trading Down 1.2 %

NYSE:VEEV traded down $2.93 on Friday, reaching $236.60. The stock had a trading volume of 977,455 shares, compared to its average volume of 1,085,187. The company has a 50-day moving average of $227.98 and a 200 day moving average of $225.30. The stock has a market cap of $38.49 billion, a P/E ratio of 58.42, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a report on Thursday, March 6th. Stephens restated an "overweight" rating and issued a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Truist Financial upped their target price on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research report on Thursday, March 6th. KeyCorp lowered their target price on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Robert W. Baird increased their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $254.92.

Veeva Systems Company 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.