Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Capital World Investors

Capital World Investors lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 643,894 shares of the technology company's stock after selling 39,628 shares during the period. Capital World Investors owned about 0.40% of Veeva Systems worth $135,379,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cardinal Capital Management boosted its position in Veeva Systems by 0.3% in 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 during the period. MassMutual Private Wealth & Trust FSB boosted its holdings 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 purchasing an additional 50 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in Veeva Systems by 0.7% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock worth $1,467,000 after purchasing an additional 51 shares in the last quarter. CHICAGO TRUST Co NA increased its holdings in Veeva Systems by 2.9% during the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock worth $395,000 after purchasing an additional 53 shares during the period. Finally, Old North State Wealth Management LLC raised its position in Veeva Systems by 0.4% during the 4th quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company's stock valued at $3,228,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 88.20% of the company's stock.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. This represents a 4.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction that occurred 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 completion of 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 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 over the last quarter. 10.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VEEV. JPMorgan Chase & Co. increased their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Robert W. Baird increased their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Morgan Stanley boosted their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a report on Thursday, March 6th. Truist Financial increased their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research note on Thursday, March 6th. Finally, Stephens reissued an "overweight" rating and issued a $280.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $254.92.

Veeva Systems Price Performance

NYSE:VEEV traded down $0.21 during midday trading on Friday, hitting $227.50. The company's stock had a trading volume of 654,852 shares, compared to its average volume of 1,072,490. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a market cap of $37.01 billion, a P/E ratio of 56.17, a P/E/G ratio of 1.89 and a beta of 1.05. The firm's 50 day moving average is $225.97 and its 200-day moving average is $223.89.

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.