Bellevue Group AG Sells 35,937 Shares of Veeva Systems Inc. (NYSE:VEEV)

Bellevue Group AG cut its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 22.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,575 shares of the technology company's stock after selling 35,937 shares during the quarter. Bellevue Group AG owned approximately 0.08% of Veeva Systems worth $26,823,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB increased 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 valued at $25,000 after buying an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new position in Veeva Systems in the 4th quarter valued at approximately $25,000. Smithfield Trust Co lifted its holdings 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 worth $27,000 after purchasing an additional 80 shares during the period. Avion Wealth grew its stake 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 purchasing an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in Veeva Systems in the fourth quarter valued at $31,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Trading Up 2.0 %

Shares of Veeva Systems stock opened at $236.63 on Friday. The firm has a market capitalization of $38.50 billion, a P/E ratio of 58.43, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The business's fifty day simple moving average is $226.53 and its 200 day simple moving average is $224.71. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction dated 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 directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now owns 5,500 shares of the company's stock, valued at $1,192,565. The trade was a 41.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,869 shares of company stock valued at $1,284,917. 10.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on VEEV shares. JPMorgan Chase & Co. upped their price target on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Piper Sandler dropped their price target on shares of Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Truist Financial boosted their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a report on Thursday, March 6th. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, Needham & Company LLC restated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.92.

About Veeva Systems

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.

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