Stifel Financial Corp Decreases Holdings in Veeva Systems Inc. (NYSE:VEEV)

Stifel Financial Corp lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 110,096 shares of the technology company's stock after selling 4,896 shares during the period. Stifel Financial Corp owned approximately 0.07% of Veeva Systems worth $23,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Veeva Systems in the fourth quarter worth approximately $25,000. Smithfield Trust Co raised its stake in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after purchasing an additional 80 shares during the last quarter. Avion Wealth lifted 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 valued at $30,000 after purchasing an additional 127 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $31,000. Institutional investors own 88.20% of the company's stock.

Insider Activity

In other news, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This trade represents a 41.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction on Monday, April 14th. The stock was 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 of the company's stock, valued at $5,720,692.33. This trade represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock worth $1,284,917 in the last three months. Corporate insiders own 10.50% of the company's stock.

Veeva Systems Stock Down 0.8 %

NYSE:VEEV traded down $1.92 during mid-day trading on Monday, hitting $225.62. 1,122,036 shares of the stock traded hands, compared to its average volume of 1,073,585. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a market cap of $36.71 billion, a PE ratio of 55.71, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The business's 50-day moving average price is $225.97 and its 200 day moving average price is $224.10.

Analysts Set New Price Targets

Several brokerages have weighed in on VEEV. KeyCorp dropped their price objective on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC reissued a "buy" rating and set a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and reduced their price objective for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Robert W. Baird lifted their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Finally, Piper Sandler reduced their target price on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of "Moderate Buy" and an average target price of $254.92.

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.