Twinbeech Capital LP Has $10.80 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Twinbeech Capital LP trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 42.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,357 shares of the technology company's stock after selling 38,567 shares during the period. Twinbeech Capital LP's holdings in Veeva Systems were worth $10,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of VEEV. Barclays PLC raised its position in Veeva Systems by 18.2% during the third quarter. Barclays PLC now owns 185,206 shares of the technology company's stock valued at $38,870,000 after buying an additional 28,497 shares during the period. JPMorgan Chase & Co. raised its position in Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after buying an additional 1,081,501 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in Veeva Systems by 71.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,507 shares of the technology company's stock valued at $527,000 after buying an additional 1,045 shares during the period. Arkadios Wealth Advisors grew its stake in Veeva Systems by 1.9% in the fourth quarter. Arkadios Wealth Advisors now owns 3,112 shares of the technology company's stock valued at $654,000 after purchasing an additional 58 shares in the last quarter. Finally, Trust Co. of Vermont grew its stake in Veeva Systems by 157.8% in the fourth quarter. Trust Co. of Vermont now owns 1,111 shares of the technology company's stock valued at $234,000 after purchasing an additional 680 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Down 1.3%

Shares of NYSE:VEEV opened at $239.62 on Tuesday. The business has a 50 day moving average price of $228.75 and a 200 day moving average price of $226.60. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The company has a market cap of $38.99 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 1.89 and a beta of 0.96.

Insiders Place Their Bets

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 stock was 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 owns 8,668 shares in the company, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 25,889 shares of the company's stock, valued at $5,720,692.33. This represents a 4.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,869 shares of company stock worth $1,284,917. 10.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on VEEV. Morgan Stanley boosted their target price on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research note on Thursday, March 6th. Robert W. Baird boosted their target price on 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. boosted their target price on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Scotiabank boosted their target price on 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 boosted their target price on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.