Envestnet Asset Management Inc. Has $113.34 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Envestnet Asset Management Inc. trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,048 shares of the technology company's stock after selling 26,829 shares during the period. Envestnet Asset Management Inc. owned about 0.33% of Veeva Systems worth $113,335,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its holdings in shares of 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. JPMorgan Chase & Co. boosted its position in Veeva Systems by 17.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock worth $631,935,000 after acquiring an additional 447,041 shares during the last quarter. Principal Financial Group Inc. grew its stake in Veeva Systems by 36.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock worth $623,186,000 after acquiring an additional 784,741 shares during the period. Geode Capital Management LLC raised its holdings in Veeva Systems by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,803,344 shares of the technology company's stock valued at $589,208,000 after acquiring an additional 38,108 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Veeva Systems by 6.8% during the 4th quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company's stock worth $447,937,000 after purchasing an additional 135,492 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares in the company, valued at $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 available through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems 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 sale, the director now owns 5,500 shares of the company's stock, valued at approximately $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. Insiders own 10.50% of the company's stock.

Veeva Systems Stock Performance

NYSE VEEV traded up $7.56 during trading hours on Friday, hitting $218.20. 1,582,004 shares of the company traded hands, compared to its average volume of 1,068,331. The business's 50-day moving average is $229.08 and its 200-day moving average is $223.18. The stock has a market capitalization of $35.50 billion, a price-to-earnings ratio of 53.88, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Analyst Ratings Changes

Several research firms recently issued reports on VEEV. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. KeyCorp decreased their price target on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Truist Financial upped their price objective on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a report on Thursday, March 6th. Morgan Stanley lifted their target price on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a report on Thursday, March 6th. Finally, Needham & Company LLC restated a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, Veeva Systems has an average rating of "Moderate Buy" and a consensus price target of $256.52.

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.