Assetmark Inc. Sells 6,196 Shares of Veeva Systems Inc. (NYSE:VEEV)

Assetmark Inc. lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 22.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,941 shares of the technology company's stock after selling 6,196 shares during the quarter. Assetmark Inc.'s holdings in Veeva Systems were worth $4,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC raised its position in Veeva Systems by 703.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company's stock worth $3,002,000 after purchasing an additional 13,654 shares during the period. Nordea Investment Management AB raised its holdings in shares of Veeva Systems by 5.2% in the fourth quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company's stock worth $31,730,000 after buying an additional 8,007 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its stake in shares of Veeva Systems by 13.1% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company's stock worth $9,460,000 after acquiring an additional 5,674 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in Veeva Systems during the 4th quarter valued at $2,668,000. Finally, Massachusetts Financial Services Co. MA grew its position in Veeva Systems by 6.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,167,960 shares of the technology company's stock valued at $417,376,000 after acquiring an additional 122,546 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an "overweight" rating in a research report on Friday, March 1st. UBS Group upped their price target on Veeva Systems from $185.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, February 26th. Needham & Company LLC reissued a "buy" rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Tuesday, April 2nd. Robert W. Baird upped their target price on Veeva Systems from $245.00 to $251.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. Finally, The Goldman Sachs Group raised their price target on Veeva Systems from $219.00 to $248.00 and gave the stock a "buy" rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.90.

Veeva Systems Trading Down 0.3 %

VEEV stock traded down $0.69 during trading on Friday, reaching $203.89. 592,087 shares of the stock were exchanged, compared to its average volume of 907,643. The firm has a market capitalization of $32.89 billion, a price-to-earnings ratio of 63.53, a P/E/G ratio of 1.97 and a beta of 0.76. The business has a 50 day moving average price of $211.60 and a 200-day moving average price of $203.17. Veeva Systems Inc. has a 1 year low of $161.39 and a 1 year high of $236.90.

Veeva Systems (NYSE:VEEV - Get Free Report) last posted its earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.11. The company had revenue of $630.62 million for the quarter, compared to analysts' expectations of $620.75 million. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. On average, research analysts anticipate that Veeva Systems Inc. will post 4.11 EPS for the current year.

Insider Buying and Selling at Veeva Systems

In other news, Director Timothy S. Cabral sold 15,000 shares of the firm's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the sale, the director now owns 23,391 shares of the company's stock, valued at approximately $5,287,301.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the firm's stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the transaction, the executive vice president now directly owns 21,983 shares of the company's stock, valued at approximately $4,415,505.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The disclosure for this sale can be found here. Insiders sold 21,989 shares of company stock valued at $4,818,013 in the last 90 days. Company insiders own 10.50% of the company's stock.

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.