Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Apella Capital LLC

Apella Capital LLC trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 16.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,290 shares of the technology company's stock after selling 2,494 shares during the period. Apella Capital LLC's holdings in Veeva Systems were worth $2,584,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. Dai ichi Life Insurance Company Ltd increased its stake in Veeva Systems by 465.5% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 6,074 shares of the technology company's stock worth $1,112,000 after buying an additional 5,000 shares during the period. Thoroughbred Financial Services LLC bought a new position in Veeva Systems in the 2nd quarter worth about $258,000. J.W. Cole Advisors Inc. purchased a new position in shares of Veeva Systems during the second quarter worth approximately $221,000. Dimensional Fund Advisors LP raised its stake in shares of Veeva Systems by 26.2% during the second quarter. Dimensional Fund Advisors LP now owns 378,380 shares of the technology company's stock valued at $69,259,000 after acquiring an additional 78,654 shares in the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Veeva Systems in the second quarter valued at approximately $563,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

VEEV stock traded up $1.17 during midday trading on Wednesday, reaching $212.03. The stock had a trading volume of 756,600 shares, compared to its average volume of 1,009,066. The firm has a fifty day simple moving average of $222.94 and a two-hundred day simple moving average of $209.17. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a market cap of $34.42 billion, a PE ratio of 52.35, a P/E/G ratio of 2.03 and a beta of 0.84.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company's stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares of the company's stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company's stock.

Wall Street Analyst Weigh In

VEEV has been the topic of several research reports. Piper Sandler raised their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Scotiabank lifted their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a "sector perform" rating in a report on Friday, December 6th. Canaccord Genuity Group increased their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Citigroup boosted their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a report on Monday, December 9th. Finally, KeyCorp dropped their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.