Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Bamco Inc. NY

Bamco Inc. NY trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 391,262 shares of the technology company's stock after selling 20,875 shares during the quarter. Bamco Inc. NY owned 0.24% of Veeva Systems worth $82,263,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of 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 bought a new stake in Veeva Systems in the fourth quarter worth about $25,000. Smithfield Trust Co boosted its position 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 period. Avion Wealth grew its stake in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after buying an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at approximately $31,000. Institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on VEEV shares. Needham & Company LLC restated a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. The Goldman Sachs Group cut shares of Veeva Systems from a "buy" rating to a "sell" rating and cut their price target for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Stephens restated an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Truist Financial raised their target price 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. 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 company's stock. According to data from MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and an average target price of $254.92.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction on Wednesday, April 2nd. The shares were 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. This represents a 8.32 % 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, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the transaction, the director now directly owns 5,500 shares of the company's stock, valued at approximately $1,192,565. This trade represents a 41.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock worth $1,284,917 over the last three months. 10.50% of the stock is currently owned by insiders.

Veeva Systems Trading Down 1.7 %

Shares of VEEV stock traded down $4.03 during trading hours on Tuesday, reaching $232.96. 734,191 shares of the company's stock were exchanged, compared to its average volume of 1,078,398. The stock has a market cap of $37.90 billion, a PE ratio of 57.52, a PEG ratio of 1.89 and a beta of 0.96. The stock's fifty day moving average price is $226.95 and its two-hundred day moving average price is $224.92. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

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.