CIBC Private Wealth Group LLC Sells 7,275 Shares of Veeva Systems Inc. (NYSE:VEEV)

CIBC Private Wealth Group LLC cut its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 269,860 shares of the technology company's stock after selling 7,275 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.17% of Veeva Systems worth $58,641,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB boosted its position in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new stake in Veeva Systems in the 4th quarter worth about $25,000. Smithfield Trust Co boosted its holdings in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC grew its position in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Avion Wealth increased its holdings in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

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Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on VEEV shares. Citigroup increased their price target on Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Evercore ISI increased their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an "in-line" rating in a report on Friday, December 6th. Wells Fargo & Company boosted their price target on Veeva Systems from $275.00 to $285.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Barclays upped their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Finally, Bank of America boosted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $256.52.

Veeva Systems Stock Down 3.6 %

Shares of NYSE VEEV traded down $7.90 during trading on Friday, reaching $213.59. The company had a trading volume of 1,939,659 shares, compared to its average volume of 1,049,403. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a market cap of $34.75 billion, a P/E ratio of 52.74, a PEG ratio of 1.89 and a beta of 0.88. The company's fifty day moving average price is $231.73 and its 200-day moving average price is $223.01.

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.