Veeva Systems Inc. (NYSE:VEEV) Shares Sold by XTX Topco Ltd

XTX Topco Ltd trimmed its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 50.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,481 shares of the technology company's stock after selling 2,575 shares during the quarter. XTX Topco Ltd's holdings in Veeva Systems were worth $522,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Cardinal Capital Management boosted its stake in Veeva Systems by 0.3% during the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock worth $3,307,000 after buying an additional 44 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Veeva Systems by 0.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock worth $1,467,000 after acquiring an additional 51 shares in the last quarter. CHICAGO TRUST Co NA lifted its stake in shares of Veeva Systems by 2.9% in the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock worth $395,000 after acquiring an additional 53 shares during the period. Finally, Old North State Wealth Management LLC increased its holdings in shares of Veeva Systems by 0.4% in the 4th quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company's stock valued at $3,228,000 after purchasing an additional 55 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VEEV. Scotiabank boosted their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. KeyCorp dropped their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Truist Financial upped their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Two 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. Based on data from MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and an average price target of $254.92.

Veeva Systems Trading Down 0.9 %

Shares of VEEV traded down $1.98 during mid-day trading on Friday, reaching $225.73. 195,674 shares of the stock traded hands, compared to its average volume of 1,069,277. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm has a fifty day moving average price of $226.08 and a 200 day moving average price of $223.73. The company has a market cap of $36.73 billion, a price-to-earnings ratio of 55.73, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the firm'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 completion of the sale, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. This trade represents a 8.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now directly owns 5,500 shares in the company, 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 5,869 shares of company stock worth $1,284,917 in the last three months. 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.