Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd decreased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 4.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 121,043 shares of the technology company’s stock after selling 5,202 shares during the quarter. Ninety One UK Ltd’s holdings in Veeva Systems were worth $25,449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. Sanctuary Advisors LLC purchased a new position in Veeva Systems during the 2nd quarter worth approximately $1,231,000. SG Americas Securities LLC grew its holdings in shares of Veeva Systems by 667.4% during the 3rd quarter. SG Americas Securities LLC now owns 5,594 shares of the technology company’s stock valued at $1,174,000 after acquiring an additional 4,865 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Veeva Systems by 13.1% during the 3rd quarter. GAMMA Investing LLC now owns 977 shares of the technology company’s stock valued at $205,000 after acquiring an additional 113 shares in the last quarter. Park Place Capital Corp grew its holdings in shares of Veeva Systems by 11.5% during the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after acquiring an additional 59 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its holdings in shares of Veeva Systems by 23.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 3,716 shares of the technology company’s stock valued at $780,000 after acquiring an additional 717 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

Shares of VEEV opened at $238.94 on Thursday. The company has a 50-day simple moving average of $223.81 and a 200-day simple moving average of $213.65. The firm has a market capitalization of $38.79 billion, a P/E ratio of 59.00, a P/E/G ratio of 2.05 and a beta of 0.85. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Mizuho assumed coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target on the stock. Bank of America lifted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Stephens started coverage on shares of Veeva Systems in a research note on Friday, December 20th. They issued an “overweight” rating and a $280.00 price objective for the company. The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and reduced their price objective for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, Citigroup lifted their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.96.

Insider Activity at Veeva Systems

In related 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 value of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % 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 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.