Ninety One UK Ltd Has $25.45 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Ninety One UK Ltd reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 121,043 shares of the technology company's stock after selling 5,202 shares during the quarter. Ninety One UK Ltd owned approximately 0.07% of Veeva Systems worth $25,449,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in shares of Veeva Systems in the second quarter valued at $1,231,000. SG Americas Securities LLC boosted its holdings in shares of Veeva Systems by 667.4% during the 3rd quarter. SG Americas Securities LLC now owns 5,594 shares of the technology company's stock worth $1,174,000 after buying an additional 4,865 shares during the period. GAMMA Investing LLC grew its stake in Veeva Systems by 13.1% in the 3rd quarter. GAMMA Investing LLC now owns 977 shares of the technology company's stock valued at $205,000 after buying an additional 113 shares during the last quarter. Park Place Capital Corp raised its holdings in Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company's stock valued at $120,000 after acquiring an additional 59 shares during the period. Finally, Atomi Financial Group Inc. lifted its position in Veeva Systems by 23.9% during the third quarter. Atomi Financial Group Inc. now owns 3,716 shares of the technology company's stock worth $780,000 after acquiring an additional 717 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on VEEV shares. Stifel Nicolaus increased their target price on Veeva Systems from $240.00 to $272.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Evercore ISI increased their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an "in-line" rating in a research report on Friday, December 6th. Citigroup lifted their target price on Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a report on Monday, December 9th. The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and decreased their price target for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, KeyCorp dropped their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and an average price target of $253.96.

Veeva Systems Trading Down 0.9 %

Veeva Systems stock traded down $2.27 during mid-day trading on Friday, reaching $237.16. The company had a trading volume of 714,333 shares, compared to its average volume of 1,002,875. The business has a fifty day simple moving average of $224.48 and a 200 day simple moving average of $214.55. The company has a market cap of $38.50 billion, a P/E ratio of 58.56, a P/E/G ratio of 1.97 and a beta of 0.85. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Insider Activity

In related 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 transaction of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.50% of the stock is owned by corporate insiders.

Veeva Systems 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.