Nuveen Asset Management LLC Sells 85,864 Shares of Veeva Systems Inc. (NYSE:VEEV)

Nuveen Asset Management LLC lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,673,775 shares of the technology company's stock after selling 85,864 shares during the period. Nuveen Asset Management LLC owned approximately 1.03% of Veeva Systems worth $351,911,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Meridiem Capital Partners LP acquired a new stake in Veeva Systems during the fourth quarter worth approximately $3,058,000. Leigh Baldwin & CO. LLC acquired a new stake in Veeva Systems during the fourth quarter worth approximately $685,355,000. LRT Capital Management LLC grew its stake in Veeva Systems by 125.1% in the fourth quarter. LRT Capital Management LLC now owns 6,837 shares of the technology company's stock valued at $1,437,000 after acquiring an additional 3,800 shares during the period. Janus Henderson Group PLC grew its stake in Veeva Systems by 7.0% in the fourth quarter. Janus Henderson Group PLC now owns 14,788 shares of the technology company's stock valued at $3,109,000 after acquiring an additional 964 shares during the period. Finally, Graham Capital Management L.P. grew its stake in Veeva Systems by 35.4% in the fourth quarter. Graham Capital Management L.P. now owns 14,826 shares of the technology company's stock valued at $3,117,000 after acquiring an additional 3,878 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Ratings Changes

VEEV has been the subject of a number of research reports. Scotiabank raised their price objective 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. KeyCorp reduced their price objective on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC reissued a "buy" rating and issued a $270.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. The Goldman Sachs Group cut Veeva Systems from a "buy" rating to a "sell" rating and reduced their price objective for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $254.92.

Veeva Systems Stock Up 0.4%

Veeva Systems stock traded up $0.88 during mid-day trading on Friday, reaching $242.48. 1,743,658 shares of the company's stock were exchanged, compared to its average volume of 1,102,501. The business's fifty day simple moving average is $228.63 and its 200 day simple moving average is $226.21. The firm has a market capitalization of $39.45 billion, a PE ratio of 59.87, a P/E/G ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Insider Buying and Selling

In other Veeva Systems news, 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 value of $265,164.00. Following the sale, the insider now directly owns 25,889 shares in the company, valued at $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, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction 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 completion of the sale, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,869 shares of company stock worth $1,284,917. 10.30% of the stock is owned by company insiders.

About Veeva Systems

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.