Chicago Capital LLC Lowers Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Chicago Capital LLC cut its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 283,641 shares of the technology company's stock after selling 2,662 shares during the quarter. Veeva Systems comprises about 1.6% of Chicago Capital LLC's holdings, making the stock its 26th largest position. Chicago Capital LLC owned 0.17% of Veeva Systems worth $59,636,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock valued at $744,084,000 after purchasing an additional 1,392,256 shares in the last quarter. State Street Corp grew its position in Veeva Systems by 1.5% during the third quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock worth $691,132,000 after buying an additional 47,872 shares in the last quarter. FMR LLC grew its position in Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock worth $625,674,000 after buying an additional 610,021 shares in the last quarter. Geode Capital Management LLC increased its stake in Veeva Systems by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock worth $579,630,000 after acquiring an additional 149,807 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after acquiring an additional 1,081,501 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Trading Down 0.1 %

NYSE VEEV traded down $0.20 on Thursday, hitting $239.09. The company's stock had a trading volume of 867,458 shares, compared to its average volume of 1,040,265. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market cap of $38.82 billion, a P/E ratio of 59.04, a PEG ratio of 2.05 and a beta of 0.85. The company's 50-day simple moving average is $224.05 and its 200 day simple moving average is $213.83.

Analyst Ratings Changes

Several research analysts have recently commented on VEEV shares. Citigroup boosted their price objective on Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Robert W. Baird increased their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Bank of America lifted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Truist Financial reduced their target price on Veeva Systems from $261.00 to $210.00 and set a "hold" rating on the stock in a research note on Monday, January 13th. Finally, KeyCorp dropped their price target on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $253.96.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company's stock, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares of the company's stock, valued at approximately $1,856,448.30. The trade was a 17.37 % 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 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.