Veeva Systems Inc. (NYSE:VEEV) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC cut its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 91,838 shares of the technology company's stock after selling 18,404 shares during the quarter. NFJ Investment Group LLC owned 0.06% of Veeva Systems worth $19,309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB raised its position in Veeva Systems by 72.5% during 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. Centricity Wealth Management LLC purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $25,000. Smithfield Trust Co lifted its stake in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after acquiring an additional 80 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems during the fourth quarter valued at $31,000. Finally, Avion Wealth grew its stake in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after acquiring an additional 127 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. StockNews.com upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. The Goldman Sachs Group lowered shares of Veeva Systems from a "buy" rating to a "sell" rating and cut their price objective for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Needham & Company LLC restated a "buy" rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Finally, Stephens reiterated an "overweight" rating and issued a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $256.32.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares in the company, valued at $5,720,692.33. This represents a 4.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems 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 completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Stock Down 2.2 %

Shares of NYSE:VEEV traded down $4.93 during trading on Friday, reaching $215.73. 1,195,499 shares of the company's stock traded hands, compared to its average volume of 1,064,779. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a 50-day simple moving average of $227.31 and a 200-day simple moving average of $223.35. The firm has a market cap of $35.10 billion, a PE ratio of 53.27, a P/E/G 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.