Champlain Investment Partners LLC Decreases Stake in Veeva Systems Inc. (NYSE:VEEV)

Champlain Investment Partners LLC reduced its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,038,712 shares of the technology company's stock after selling 78,295 shares during the quarter. Veeva Systems comprises 1.4% of Champlain Investment Partners LLC's investment portfolio, making the stock its 19th largest position. Champlain Investment Partners LLC owned approximately 0.64% of Veeva Systems worth $218,389,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cardinal Capital Management lifted its position in shares of Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock worth $3,307,000 after purchasing an additional 44 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Veeva Systems by 0.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company's stock worth $1,467,000 after acquiring an additional 51 shares during the period. CHICAGO TRUST Co NA raised its position in shares of Veeva Systems by 2.9% in the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock worth $395,000 after acquiring an additional 53 shares in the last quarter. Finally, Old North State Wealth Management LLC raised its position in shares of Veeva Systems by 0.4% in the 4th quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company's stock worth $3,228,000 after acquiring an additional 55 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the transaction, the insider now owns 25,889 shares in the company, valued at $5,720,692.33. The trade was 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 valued at $1,284,917 in the last three months. Corporate insiders own 10.50% of the company's stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several recent research reports. Needham & Company LLC reissued a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Morgan Stanley lifted their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research report on Thursday, March 6th. Robert W. Baird upped their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Truist Financial raised their target price on shares of Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research note on Thursday, March 6th. Finally, Scotiabank boosted their price target on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $256.32.

Veeva Systems Stock Performance

NYSE:VEEV traded up $4.30 during trading hours on Tuesday, reaching $214.38. The stock had a trading volume of 362,051 shares, compared to its average volume of 1,065,840. The stock has a market capitalization of $34.88 billion, a PE ratio of 52.92, a PEG ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a 50 day moving average price of $226.85 and a two-hundred day moving average price of $223.63.

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.