Lazard Asset Management LLC Sells 4,809 Shares of Veeva Systems Inc. (NYSE:VEEV)

Lazard Asset Management LLC decreased its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,830 shares of the technology company's stock after selling 4,809 shares during the period. Lazard Asset Management LLC's holdings in Veeva Systems were worth $3,958,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems in the 4th quarter valued at about $25,000. Smithfield Trust Co grew its holdings in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after acquiring an additional 80 shares in the last quarter. Avion Wealth grew its holdings in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after acquiring an additional 127 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems in the 4th quarter valued at about $31,000. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded up $0.01 during midday trading on Thursday, reaching $235.01. The company's stock had a trading volume of 211,186 shares, compared to its average volume of 1,107,424. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The business's 50 day moving average price is $229.03 and its two-hundred day moving average price is $226.75. The company has a market cap of $38.24 billion, a P/E ratio of 58.03, a P/E/G ratio of 1.89 and a beta of 0.96.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of research analyst reports. Truist Financial lifted their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Morgan Stanley lifted their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a report on Thursday, March 6th. Scotiabank lifted their price target on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Finally, KeyCorp reduced their price target on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.92.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the business's stock in a transaction 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 sale, the director now owns 5,500 shares of the company's stock, valued at approximately $1,192,565. The trade was a 41.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the business's 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 sale, the insider now directly owns 25,889 shares in the company, valued at approximately $5,720,692.33. The trade was 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 worth $1,284,917 over the last three months. Corporate insiders own 10.30% of the company's stock.

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.