Entropy Technologies LP Sells 14,671 Shares of Veeva Systems Inc. (NYSE:VEEV)

Entropy Technologies LP trimmed its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 77.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,373 shares of the technology company's stock after selling 14,671 shares during the quarter. Entropy Technologies LP's holdings in Veeva Systems were worth $919,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB grew its holdings in 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 purchasing an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems during the 3rd quarter valued at $26,000. True Wealth Design LLC grew its holdings in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Veeva Systems during the 4th quarter valued at $31,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Veeva Systems during the 3rd quarter valued at $49,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems 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 sale, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on VEEV. Barclays increased their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Scotiabank lifted their price objective on shares of Veeva Systems from $235.00 to $240.00 and gave the company a "sector perform" rating in a research report on Friday, December 6th. Canaccord Genuity Group lifted their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Piper Sandler raised their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Finally, Truist Financial lowered their price objective on shares of Veeva Systems from $261.00 to $210.00 and set a "hold" rating on the stock in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $253.96.

Veeva Systems Stock Performance

Shares of VEEV stock traded down $0.06 during trading on Friday, hitting $234.09. 853,426 shares of the company were exchanged, compared to its average volume of 983,671. The firm has a market capitalization of $38.00 billion, a price-to-earnings ratio of 57.80, a P/E/G ratio of 1.97 and a beta of 0.85. The business's 50-day simple moving average is $224.80 and its 200 day simple moving average is $215.67. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

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.