Veeva Systems Inc. (NYSE:VEEV) Shares Sold by MML Investors Services LLC

MML Investors Services LLC lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,124 shares of the technology company's stock after selling 1,662 shares during the quarter. MML Investors Services LLC's holdings in Veeva Systems were worth $13,272,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Barclays PLC increased its stake in shares of Veeva Systems by 18.2% during the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company's stock valued at $38,870,000 after acquiring an additional 28,497 shares during the last quarter. Tudor Financial Inc. purchased a new position in shares of Veeva Systems during the 3rd quarter worth about $265,000. World Investment Advisors LLC acquired a new stake in shares of Veeva Systems in the third quarter worth approximately $2,131,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Veeva Systems in the third quarter valued at approximately $168,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Trading Down 0.5 %

NYSE VEEV traded down $1.17 during trading hours on Monday, reaching $226.37. The company's stock had a trading volume of 150,543 shares, compared to its average volume of 1,069,776. The business has a 50-day simple moving average of $225.97 and a 200 day simple moving average of $224.10. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market cap of $36.83 billion, a PE ratio of 55.86, a PEG ratio of 1.89 and a beta of 1.05.

Insider Transactions at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares of the company's stock, valued at approximately $1,192,565. The trade was a 41.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of recent analyst reports. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. KeyCorp dropped their price target on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Stephens reaffirmed an "overweight" rating and issued a $280.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Needham & Company LLC reissued a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Morgan Stanley lifted their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research 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 given a buy rating to the company's stock. According to MarketBeat, Veeva Systems currently has a consensus rating of "Moderate Buy" and a consensus price target 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.