Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Decreased by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 46.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,305 shares of the technology company's stock after selling 111,718 shares during the period. Point72 Asset Management L.P. owned approximately 0.08% of Veeva Systems worth $27,186,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Leigh Baldwin & CO. LLC acquired a new position in shares of Veeva Systems during the 4th quarter worth $685,355,000. Norges Bank purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $294,785,000. JPMorgan Chase & Co. grew its position in shares of Veeva Systems by 73.2% in the third 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. Wealthfront Advisers LLC increased its stake in shares of Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock worth $220,489,000 after purchasing an additional 1,045,188 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of 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 worth $623,186,000 after purchasing an additional 784,741 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares of the company's stock, valued at $1,192,565. The trade was a 41.38% 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 ninety days. Company insiders own 10.30% of the company's stock.

Veeva Systems Trading Up 0.3%

NYSE VEEV traded up $0.60 during trading hours on Thursday, reaching $235.60. 346,334 shares of the company traded hands, compared to its average volume of 1,107,882. The company has a 50 day moving average of $229.03 and a two-hundred day moving average of $226.75. The stock has a market capitalization of $38.33 billion, a PE ratio of 58.19, a PEG ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on VEEV shares. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Scotiabank increased 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. Needham & Company LLC reissued a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Morgan Stanley upped their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and lowered their price target for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. 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 company. Based on data from MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and an average target price of $254.92.

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.