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

Rhumbline Advisers trimmed its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,257 shares of the technology company's stock after selling 1,614 shares during the period. Rhumbline Advisers owned approximately 0.13% of Veeva Systems worth $43,996,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vontobel Holding Ltd. lifted its stake in shares of Veeva Systems by 13.2% in the 4th quarter. Vontobel Holding Ltd. now owns 26,984 shares of the technology company's stock valued at $5,673,000 after purchasing an additional 3,155 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Veeva Systems by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 56,215 shares of the technology company's stock valued at $12,031,000 after purchasing an additional 1,531 shares during the last quarter. Fiera Capital Corp lifted its stake in shares of Veeva Systems by 11.9% in the 4th quarter. Fiera Capital Corp now owns 357,767 shares of the technology company's stock valued at $75,221,000 after purchasing an additional 38,037 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Veeva Systems by 6.8% in the fourth quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company's stock worth $447,937,000 after buying an additional 135,492 shares during the period. Finally, Avion Wealth raised its holdings in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after buying an additional 127 shares during the period. 88.20% of the stock is owned by institutional investors.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.50% of the company's stock.

Veeva Systems Stock Down 1.2 %

Shares of Veeva Systems stock traded down $2.64 during trading on Friday, reaching $226.10. The company's stock had a trading volume of 940,179 shares, compared to its average volume of 980,873. The company has a market cap of $36.71 billion, a price-to-earnings ratio of 55.83, a P/E/G ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The company has a 50-day simple moving average of $223.81 and a two-hundred day simple moving average of $217.11.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price target on Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Mizuho assumed coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Veeva Systems from $208.00 to $218.00 and gave the stock a "neutral" rating in a report on Monday, December 16th. Stifel Nicolaus increased their price target on Veeva Systems from $240.00 to $272.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $253.96.

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.