Ossiam Sells 2,280 Shares of Veeva Systems Inc. (NYSE:VEEV)

Ossiam reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 53.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,967 shares of the technology company's stock after selling 2,280 shares during the period. Ossiam's holdings in Veeva Systems were worth $414,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Veeva Systems by 7.8% during the fourth quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock valued at $675,609,000 after acquiring an additional 232,116 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Veeva Systems by 17.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock valued at $631,935,000 after purchasing an additional 447,041 shares in the last quarter. Principal Financial Group Inc. increased its stake in Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after purchasing an additional 784,741 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Veeva Systems by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 2,803,344 shares of the technology company's stock worth $589,208,000 after buying an additional 38,108 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Veeva Systems by 6.8% in the fourth quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company's stock worth $447,937,000 after buying an additional 135,492 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VEEV shares. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Needham & Company LLC restated a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. KeyCorp decreased their target price on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and dropped their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Veeva Systems has a consensus rating of "Moderate Buy" and an average target price of $254.92.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This represents a 8.32 % 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. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV traded down $1.87 during midday trading on Monday, reaching $225.67. The stock had a trading volume of 134,886 shares, compared to its average volume of 1,069,699. The company has a market capitalization of $36.72 billion, a price-to-earnings ratio of 55.70, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The stock has a 50-day moving average of $225.97 and a 200-day moving average of $224.10.

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.