Curi RMB Capital LLC Cuts Holdings in Veeva Systems Inc. (NYSE:VEEV)

Curi RMB Capital LLC lessened its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 66.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,240 shares of the technology company's stock after selling 2,408 shares during the quarter. Curi RMB Capital LLC's holdings in Veeva Systems were worth $261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its position in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new stake in Veeva Systems during the 4th quarter valued at approximately $25,000. Smithfield Trust Co boosted its holdings in shares of 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 acquiring an additional 80 shares during the last quarter. Avion Wealth boosted its holdings in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after acquiring an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Veeva Systems in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Wall Street Analyst Weigh In

VEEV has been the topic of several recent research reports. Robert W. Baird upped their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Morgan Stanley lifted their price target on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research report on Thursday, March 6th. Truist Financial raised their price objective 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. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Finally, The Goldman Sachs Group lowered shares of Veeva Systems from a "buy" rating to a "sell" rating and dropped their price target for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $254.92.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction 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 approximately $1,192,565. The trade was a 41.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,869 shares of company stock valued at $1,284,917. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Trading Up 3.2 %

Veeva Systems stock traded up $7.15 during midday trading on Thursday, hitting $227.68. 945,102 shares of the stock were exchanged, compared to its average volume of 1,072,731. The stock's 50-day simple moving average is $226.08 and its 200 day simple moving average is $223.73. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The stock has a market capitalization of $37.04 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 1.89 and a beta of 1.05.

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.