Schonfeld Strategic Advisors LLC Has $330,000 Position in Veeva Systems Inc. (NYSE:VEEV)

Schonfeld Strategic Advisors LLC reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 77.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,570 shares of the technology company's stock after selling 5,245 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Veeva Systems were worth $330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Cardinal Capital Management lifted its position in shares of Veeva Systems by 0.3% in the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock valued at $3,307,000 after buying an additional 44 shares during the last quarter. Johnson Financial Group Inc. lifted its position in shares of Veeva Systems by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock valued at $56,000 after buying an additional 44 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after buying an additional 50 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Veeva Systems by 0.7% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock valued at $1,467,000 after buying an additional 51 shares during the last quarter. Finally, CHICAGO TRUST Co NA lifted its position in shares of Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock valued at $395,000 after buying an additional 53 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $241.47 on Tuesday. The stock's fifty day moving average price is $228.41 and its two-hundred day moving average price is $225.60. The company has a market cap of $39.29 billion, a PE ratio of 59.62, a P/E/G ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VEEV shares. The Goldman Sachs Group cut Veeva Systems from a "buy" rating to a "sell" rating and cut their price objective for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. 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 report on Thursday, March 6th. Morgan Stanley raised their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research report on Thursday, March 6th. Needham & Company LLC reiterated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. increased their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $254.92.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,200 shares of the company'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 completion of the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This represents a 4.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $178,019.40. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock worth $1,284,917 in the last ninety days. 10.50% of the stock is owned by 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.

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