Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Bell Bank

Bell Bank reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,263 shares of the technology company’s stock after selling 187 shares during the quarter. Bell Bank’s holdings in Veeva Systems were worth $1,107,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of VEEV. Blue Trust Inc. boosted its stake in shares of Veeva Systems by 453.9% in the 3rd quarter. Blue Trust Inc. now owns 986 shares of the technology company’s stock valued at $207,000 after buying an additional 808 shares during the period. Raymond James & Associates boosted its stake in shares of Veeva Systems by 9.1% in the 3rd quarter. Raymond James & Associates now owns 115,954 shares of the technology company’s stock valued at $24,335,000 after buying an additional 9,713 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Veeva Systems by 19,189.0% in the 3rd quarter. International Assets Investment Management LLC now owns 119,206 shares of the technology company’s stock valued at $25,018,000 after buying an additional 118,588 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Veeva Systems in the 3rd quarter valued at about $307,000. Finally, IFM Investors Pty Ltd boosted its stake in shares of Veeva Systems by 0.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 29,486 shares of the technology company’s stock valued at $6,188,000 after buying an additional 109 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Down 1.2 %

NYSE:VEEV opened at $226.10 on Friday. The firm has a market cap of $36.71 billion, a P/E ratio of 55.83, a PEG ratio of 1.89 and a beta of 0.85. The stock’s 50 day simple moving average is $223.81 and its 200-day simple moving average is $217.11. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VEEV shares. Bank of America lifted their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Piper Sandler lifted their price objective on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Mizuho started coverage on Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is currently owned by corporate insiders.

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.