Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 8.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,442 shares of the technology company's stock after selling 1,373 shares during the period. Gotham Asset Management LLC's holdings in Veeva Systems were worth $3,036,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its holdings in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Veeva Systems in the 4th quarter valued at approximately $25,000. Smithfield Trust Co increased its holdings in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after purchasing an additional 80 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Veeva Systems in the 4th quarter valued at approximately $31,000. Finally, Avion Wealth increased its holdings in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the company's stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction dated Monday, April 14th. The shares were 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 of the company's stock, valued at $5,720,692.33. The trade was a 4.43% 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 valued at $1,284,917 over the last ninety days. Insiders own 10.50% of the company's stock.

Veeva Systems Price Performance

Shares of VEEV opened at $241.58 on Friday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The stock has a market cap of $39.30 billion, a PE ratio of 59.65, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The firm has a fifty day moving average price of $228.40 and a 200 day moving average price of $226.01.

Analyst Upgrades and Downgrades

Several research firms have commented on VEEV. The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and dropped their price target for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Robert W. Baird boosted their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $254.92.

Veeva Systems Company 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.

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