Barclays PLC Reduces Holdings in Veeva Systems Inc. (NYSE:VEEV)

Barclays PLC trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 27.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 133,633 shares of the technology company's stock after selling 51,573 shares during the period. Barclays PLC owned about 0.08% of Veeva Systems worth $28,096,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Veeva Systems in the 4th quarter valued at $294,785,000. Principal Financial Group Inc. raised its stake in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after buying an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after buying an additional 1,081,501 shares during the last quarter. Wealthfront Advisers LLC boosted its position in shares of Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock worth $220,489,000 after acquiring an additional 1,045,188 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Veeva Systems in the 4th quarter valued at about $95,710,000. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on VEEV shares. KeyCorp decreased their target price on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Truist Financial lifted their price target on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research note on Thursday, March 6th. Morgan Stanley upped their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research note on Thursday, March 6th. Finally, Stephens reiterated an "overweight" rating and set a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and a consensus target price of $254.92.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares of the company's stock, valued at $1,960,701.60. The trade was a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares of the company's stock, valued at $1,192,565. The trade was a 41.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Trading Up 2.2 %

Shares of VEEV traded up $4.68 during mid-day trading on Wednesday, hitting $220.46. The company's stock had a trading volume of 644,055 shares, compared to its average volume of 1,233,617. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The firm has a market capitalization of $35.87 billion, a P/E ratio of 54.41, a P/E/G ratio of 1.89 and a beta of 1.05. The firm has a 50-day simple moving average of $226.48 and a 200 day simple moving average of $223.57.

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.