Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Deutsche Bank AG

Deutsche Bank AG decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 365,418 shares of the technology company's stock after selling 47,935 shares during the quarter. Deutsche Bank AG owned about 0.23% of Veeva Systems worth $76,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB grew its position 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 valued at $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Veeva Systems during the fourth quarter valued at $25,000. Smithfield Trust Co grew its position in 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 buying an additional 80 shares in the last quarter. Avion Wealth increased its stake in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after acquiring an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems in the 4th quarter valued at about $31,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Trading Up 0.4%

Shares of NYSE:VEEV traded up $0.88 on Friday, hitting $242.48. The company had a trading volume of 1,743,658 shares, compared to its average volume of 1,099,482. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The company has a market cap of $39.45 billion, a PE ratio of 59.87, a PEG ratio of 1.89 and a beta of 0.96. The business has a 50 day moving average of $228.40 and a 200 day moving average of $226.01.

Insider Activity

In related news, SVP Jonathan Faddis sold 787 shares of the 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 completion of the transaction, the senior vice president now owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 sale, the insider now owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. KeyCorp reduced their price objective on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Scotiabank boosted their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Stephens restated an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. The Goldman Sachs Group lowered shares of Veeva Systems from a "buy" rating to a "sell" rating and lowered their target price for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Finally, Morgan Stanley lifted their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research note on Thursday, March 6th. Two 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 company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.