Paragon Advisors LLC Sells 3,538 Shares of Veeva Systems Inc. (NYSE:VEEV)

Paragon Advisors LLC lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 20.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,745 shares of the technology company's stock after selling 3,538 shares during the period. Paragon Advisors LLC's holdings in Veeva Systems were worth $2,890,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in VEEV. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems during the 3rd quarter worth approximately $26,000. True Wealth Design LLC lifted its position in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after buying an additional 135 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Veeva Systems during the 2nd quarter worth approximately $46,000. Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems during the 3rd quarter worth approximately $49,000. Finally, Quent Capital LLC lifted its position in shares of Veeva Systems by 794.1% during the 3rd quarter. Quent Capital LLC now owns 304 shares of the technology company's stock worth $64,000 after buying an additional 270 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research reports. Mizuho initiated coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Royal Bank of Canada lifted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. Piper Sandler lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Finally, Bank of America lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $255.74.

Veeva Systems Stock Down 1.0 %

NYSE:VEEV traded down $2.21 during midday trading on Monday, hitting $215.54. The company had a trading volume of 109,231 shares, compared to its average volume of 888,301. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock's fifty day moving average price is $222.97 and its 200-day moving average price is $208.78. The company has a market capitalization of $34.99 billion, a PE ratio of 53.22, a P/E/G ratio of 2.03 and a beta of 0.84.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 sale, the senior vice president now owns 8,061 shares of the company's stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by company 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.