Blair William & Co. IL Cuts Position in Veeva Systems Inc. (NYSE:VEEV)

Blair William & Co. IL reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,351,717 shares of the technology company’s stock after selling 107,381 shares during the period. Blair William & Co. IL owned approximately 0.84% of Veeva Systems worth $247,378,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. purchased a new position in Veeva Systems in the first quarter valued at about $28,000. DSM Capital Partners LLC purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $29,000. First Financial Corp IN purchased a new stake in shares of Veeva Systems during the 1st quarter valued at about $35,000. Larson Financial Group LLC lifted its position in Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in Veeva Systems in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Barclays lifted their price target on shares of Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Evercore ISI decreased their price objective on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a research report on Friday, May 31st. UBS Group lifted their target price on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Robert W. Baird boosted their price target on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $229.96.

Veeva Systems Stock Down 1.0 %

Shares of NYSE:VEEV opened at $214.80 on Wednesday. The company has a market cap of $34.72 billion, a PE ratio of 63.36, a P/E/G ratio of 2.14 and a beta of 0.81. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The firm has a 50-day simple moving average of $197.48 and a 200 day simple moving average of $201.61.

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.