Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Ossiam

Ossiam cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 53.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,967 shares of the technology company's stock after selling 2,280 shares during the period. Ossiam's holdings in Veeva Systems were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the period. Smith Group Asset Management LLC lifted its stake in Veeva Systems by 2.2% in the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock worth $17,360,000 after purchasing an additional 1,749 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Veeva Systems in the 4th quarter worth about $816,000. Venturi Wealth Management LLC increased its stake in shares of Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after buying an additional 163 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Veeva Systems by 21.6% during the fourth quarter. Nordea Investment Management AB now owns 261,131 shares of the technology company's stock worth $55,073,000 after buying an additional 46,440 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

VEEV traded down $0.21 on Friday, reaching $227.50. 654,852 shares of the company's stock were exchanged, compared to its average volume of 1,072,490. The stock's fifty day moving average price is $225.97 and its 200-day moving average price is $223.89. The stock has a market cap of $37.01 billion, a PE ratio of 56.17, 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.

Analysts Set New Price Targets

Several research analysts recently weighed in on VEEV shares. Robert W. Baird boosted their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Morgan Stanley lifted their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research note on Thursday, March 6th. KeyCorp cut their target price on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Finally, Truist Financial increased their price objective on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.92.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider now directly owns 25,889 shares in the company, valued at approximately $5,720,692.33. The trade was a 4.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,869 shares of company stock valued at $1,284,917. Insiders own 10.50% of the company's stock.

About Veeva Systems

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.