Arthur M. Cohen & Associates LLC Sells 1,676 Shares of Veeva Systems Inc. (NYSE:VEEV)

Arthur M. Cohen & Associates LLC cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,617 shares of the technology company’s stock after selling 1,676 shares during the quarter. Veeva Systems makes up 0.6% of Arthur M. Cohen & Associates LLC’s portfolio, making the stock its 28th largest position. Arthur M. Cohen & Associates LLC’s holdings in Veeva Systems were worth $3,494,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in VEEV. Retirement Wealth Solutions LLC acquired a new stake in Veeva Systems in the 4th quarter valued at about $31,000. Merit Financial Group LLC grew its stake in shares of Veeva Systems by 4.7% during the fourth quarter. Merit Financial Group LLC now owns 37,810 shares of the technology company’s stock valued at $7,950,000 after purchasing an additional 1,687 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $2,299,000. Procyon Advisors LLC raised its position in Veeva Systems by 11.9% in the 4th quarter. Procyon Advisors LLC now owns 3,796 shares of the technology company’s stock worth $798,000 after purchasing an additional 405 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Veeva Systems by 71.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,507 shares of the technology company’s stock worth $527,000 after buying an additional 1,045 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Up 0.9 %

NYSE:VEEV opened at $216.67 on Friday. The company has a market cap of $35.18 billion, a P/E ratio of 53.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The business has a 50 day moving average price of $222.68 and a two-hundred day moving average price of $209.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on VEEV shares. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Bank of America upped their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research report on Friday. KeyCorp cut their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler raised their target price on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.74.

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.