Financiere des Professionnels Fonds d investissement inc. Sells 10,506 Shares of Veeva Systems Inc. (NYSE:VEEV)

Financiere des Professionnels Fonds d investissement inc. lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,509 shares of the technology company's stock after selling 10,506 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Veeva Systems were worth $2,210,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. J.W. Cole Advisors Inc. boosted its holdings in shares of Veeva Systems by 7.2% in the 4th quarter. J.W. Cole Advisors Inc. now owns 2,017 shares of the technology company's stock worth $424,000 after buying an additional 135 shares during the last quarter. Blue Zone Wealth Advisors LLC boosted its stake in Veeva Systems by 7.2% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 15,694 shares of the technology company's stock valued at $3,300,000 after acquiring an additional 1,054 shares during the last quarter. Copperleaf Capital LLC boosted its stake in Veeva Systems by 4.9% in the fourth quarter. Copperleaf Capital LLC now owns 2,606 shares of the technology company's stock valued at $548,000 after acquiring an additional 121 shares during the last quarter. Hickory Asset Management Inc. bought a new position in shares of Veeva Systems during the 4th quarter valued at approximately $386,000. Finally, Vontobel Holding Ltd. increased its stake in shares of Veeva Systems by 13.2% during the 4th quarter. Vontobel Holding Ltd. now owns 26,984 shares of the technology company's stock worth $5,673,000 after purchasing an additional 3,155 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VEEV. Royal Bank of Canada increased their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a report on Friday, December 6th. The Goldman Sachs Group downgraded Veeva Systems from a "buy" rating to a "sell" rating and cut their price target for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Scotiabank boosted their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a "sector perform" rating in a research note on Friday, December 6th. Evercore ISI increased their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an "in-line" rating in a research report on Friday, December 6th. Finally, Stephens assumed coverage on shares of Veeva Systems in a research note on Friday, December 20th. They issued an "overweight" rating and a $280.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and an average price target of $253.96.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction 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. This represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Performance

VEEV traded down $0.46 during trading on Thursday, reaching $228.73. The stock had a trading volume of 884,440 shares, compared to its average volume of 982,107. The business has a 50-day moving average of $223.89 and a 200-day moving average of $217.03. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock has a market cap of $37.13 billion, a PE ratio of 56.48, a PEG ratio of 1.92 and a beta of 0.85.

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.