MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $1.48 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 54.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,056 shares of the technology company's stock after selling 8,502 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Veeva Systems were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. Barclays PLC boosted its stake in Veeva Systems by 18.2% in the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company's stock worth $38,870,000 after purchasing an additional 28,497 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after buying an additional 1,081,501 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake 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 worth $25,000 after buying an additional 50 shares during the last quarter. Dakota Wealth Management acquired a new position in shares of Veeva Systems during the 4th quarter worth about $1,471,000. Finally, SG Americas Securities LLC boosted its stake in shares of Veeva Systems by 146.5% during the 4th quarter. SG Americas Securities LLC now owns 13,792 shares of the technology company's stock worth $2,900,000 after buying an additional 8,198 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Veeva Systems news, 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 sale, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,869 shares of company stock worth $1,284,917. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded up $5.14 during trading hours on Tuesday, hitting $238.14. 1,313,976 shares of the stock were exchanged, compared to its average volume of 1,115,288. The company has a market cap of $38.74 billion, a PE ratio of 58.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company's fifty day simple moving average is $228.88 and its two-hundred day simple moving average is $227.14. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93.

Analysts Set New Price Targets

VEEV has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Stephens reiterated an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. KeyCorp cut their target price on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Scotiabank raised their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Finally, Truist Financial raised their target price 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. Two investment 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. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of "Moderate Buy" and an average target price of $254.92.

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.