USS Investment Management Ltd Sells 4,552 Shares of Veeva Systems Inc. (NYSE:VEEV)

USS Investment Management Ltd trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 15.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,034 shares of the technology company's stock after selling 4,552 shares during the period. USS Investment Management Ltd's holdings in Veeva Systems were worth $5,263,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC lifted its holdings in Veeva Systems by 18.2% during the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company's stock valued at $38,870,000 after purchasing an additional 28,497 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in 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 during the last quarter. Dakota Wealth Management bought a new position in Veeva Systems during the 4th quarter valued at about $1,471,000. Finally, SG Americas Securities LLC lifted its holdings in Veeva Systems by 146.5% during the 4th quarter. SG Americas Securities LLC now owns 13,792 shares of the technology company's stock valued at $2,900,000 after purchasing an additional 8,198 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $235.44 on Friday. The stock has a market cap of $38.31 billion, a P/E ratio of 58.13, a P/E/G ratio of 1.89 and a beta of 0.96. The firm has a 50 day moving average price of $229.00 and a 200 day moving average price of $226.91. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems 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 transaction, the insider now owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,869 shares of company stock worth $1,284,917. 10.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on VEEV. Truist Financial raised their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research report on Thursday, March 6th. The Goldman Sachs Group cut shares of Veeva Systems from a "buy" rating to a "sell" rating and lowered their price objective for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. KeyCorp lowered their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Two investment 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. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average price target 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.

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.