Brown Advisory Inc. Has $151.14 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Brown Advisory Inc. trimmed its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 718,864 shares of the technology company's stock after selling 88,129 shares during the period. Brown Advisory Inc. owned approximately 0.44% of Veeva Systems worth $151,141,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in 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 buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems during the fourth quarter valued at $25,000. Smithfield Trust Co boosted its holdings in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after acquiring an additional 80 shares during the last quarter. Avion Wealth boosted its holdings in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after acquiring an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in Veeva Systems in the fourth quarter worth about $31,000. 88.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares of the company's stock, valued at $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock valued at $1,284,917 in the last 90 days. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Performance

VEEV opened at $236.63 on Friday. The business's 50-day simple moving average is $226.53 and its 200 day simple moving average is $224.71. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market capitalization of $38.50 billion, a PE ratio of 58.43, a PEG ratio of 1.89 and a beta of 1.05.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of research reports. 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. Robert W. Baird raised their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. lifted their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. The Goldman Sachs Group downgraded Veeva Systems from a "buy" rating to a "sell" rating and cut their price target for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, Morgan Stanley lifted their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research note on Thursday, March 6th. Two 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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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