Cetera Investment Advisers Has $16.10 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Cetera Investment Advisers cut its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,594 shares of the technology company's stock after selling 1,479 shares during the quarter. Cetera Investment Advisers' holdings in Veeva Systems were worth $16,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. Norges Bank acquired a new stake in shares of Veeva Systems during the 4th quarter worth approximately $294,785,000. JPMorgan Chase & Co. lifted its position in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the period. Wealthfront Advisers LLC boosted its stake in Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock worth $220,489,000 after buying an additional 1,045,188 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Veeva Systems by 36.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after buying an additional 784,741 shares during the period. Finally, Marshall Wace LLP increased its holdings in Veeva Systems by 413.3% in the 4th quarter. Marshall Wace LLP now owns 638,380 shares of the technology company's stock valued at $134,219,000 after buying an additional 514,004 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Insider Activity at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the business's 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 directly owns 5,500 shares in the company, valued at approximately $1,192,565. The trade was a 41.38% decrease in their position. The transaction 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 stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the sale, the insider now owns 25,889 shares in the company, valued at approximately $5,720,692.33. This trade represents 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 worth $1,284,917 over the last ninety days. Company insiders own 10.50% of the company's stock.

Veeva Systems Stock Up 1.9%

VEEV stock traded up $4.42 during trading on Monday, hitting $241.47. The company had a trading volume of 2,260,375 shares, compared to its average volume of 1,089,888. The firm has a 50-day moving average price of $228.41 and a 200-day moving average price of $225.60. The stock has a market cap of $39.29 billion, a price-to-earnings ratio of 59.62, a PEG 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.

Analyst Ratings Changes

Several analysts have recently weighed in on VEEV shares. Needham & Company LLC reiterated 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 lifted their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Truist Financial upped their price objective on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research note on Thursday, March 6th. The Goldman Sachs Group cut Veeva Systems from a "buy" rating to a "sell" rating and dropped their target price for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Finally, Piper Sandler decreased their price target on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.92.

Veeva Systems 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.