Ownership Capital B.V. Sells 128,820 Shares of Veeva Systems Inc. (NYSE:VEEV)

Ownership Capital B.V. trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 631,286 shares of the technology company's stock after selling 128,820 shares during the period. Veeva Systems makes up approximately 4.9% of Ownership Capital B.V.'s investment portfolio, making the stock its 10th largest holding. Ownership Capital B.V. owned 0.39% of Veeva Systems worth $132,728,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB grew its holdings in 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 during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems during the third quarter worth about $26,000. True Wealth Design LLC grew its holdings in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after acquiring an additional 135 shares during the period. Retirement Wealth Solutions LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at $31,000. Finally, Avion Wealth boosted its position in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after purchasing an additional 127 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Down 1.2 %

NYSE VEEV traded down $2.64 during trading on Friday, hitting $226.10. The company's stock had a trading volume of 940,179 shares, compared to its average volume of 980,873. The firm has a market cap of $36.71 billion, a P/E ratio of 55.83, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The firm has a 50 day moving average price of $223.81 and a 200 day moving average price of $217.11.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VEEV shares. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Friday, January 17th. Mizuho started coverage on Veeva Systems in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price target for the company. Truist Financial decreased their price target on Veeva Systems from $261.00 to $210.00 and set a "hold" rating for the company in a research report on Monday, January 13th. Canaccord Genuity Group increased their price target on Veeva Systems from $210.00 to $270.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Finally, The Goldman Sachs Group lowered Veeva Systems from a "buy" rating to a "sell" rating and decreased their price objective for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $253.96.

Insider Activity

In other news, SVP Jonathan Faddis sold 1,694 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.50% of the stock is currently owned by company insiders.

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.