Headlands Technologies LLC lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 57.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,725 shares of the technology company's stock after selling 5,097 shares during the period. Headlands Technologies LLC's holdings in Veeva Systems were worth $783,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after buying an additional 50 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems in the fourth quarter worth approximately $25,000. Smithfield Trust Co raised its holdings in shares of Veeva Systems by 145.5% during the fourth 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 last quarter. Retirement Wealth Solutions LLC bought a new position in Veeva Systems during the fourth quarter valued at approximately $31,000. Finally, Avion Wealth lifted its position in Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 88.20% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. KeyCorp dropped their target price on Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley boosted their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research report on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Finally, The Goldman Sachs Group cut shares of Veeva Systems from a "buy" rating to a "sell" rating and dropped their price target for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Two investment 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $256.52.
Check Out Our Latest Stock Report on Veeva Systems
Insider Activity
In related news, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.50% of the company's stock.
Veeva Systems Trading Down 1.5 %
VEEV traded down $3.28 during trading on Monday, hitting $210.40. 511,223 shares of the company traded hands, compared to its average volume of 1,048,021. The company has a market cap of $34.23 billion, a PE ratio of 51.87, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock's 50-day simple moving average is $231.73 and its two-hundred day simple moving average is $223.12.
About Veeva Systems
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Free Report)
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.
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