Veeva Systems Inc. (NYSE:VEEV) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. reduced its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 64.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,136 shares of the technology company's stock after selling 5,572 shares during the quarter. iA Global Asset Management Inc.'s holdings in Veeva Systems were worth $658,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems during the third quarter valued at approximately $26,000. True Wealth Design LLC raised its stake in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after buying an additional 135 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock valued at $33,000 after buying an additional 173 shares during the period. DT Investment Partners LLC bought a new stake in shares of Veeva Systems in the second quarter worth $35,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Veeva Systems in the third quarter worth about $49,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Up 0.1 %

Shares of NYSE:VEEV traded up $0.20 during midday trading on Tuesday, reaching $246.19. The company's stock had a trading volume of 1,275,696 shares, compared to its average volume of 978,204. The stock has a fifty day moving average of $219.02 and a 200 day moving average of $203.12. Veeva Systems Inc. has a twelve month low of $169.98 and a twelve month high of $258.93. The firm has a market capitalization of $39.87 billion, a PE ratio of 60.79, a P/E/G ratio of 2.43 and a beta of 0.82.

Analysts Set New Price Targets

Several brokerages recently issued reports on VEEV. Citigroup upped their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a report on Monday. Royal Bank of Canada upped their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday. Mizuho started coverage on Veeva Systems in a research report on Wednesday, December 4th. They set an "outperform" rating and a $275.00 target price on the stock. Needham & Company LLC upped their price target on Veeva Systems from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Scotiabank lifted their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a "sector perform" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Veeva Systems has an average rating of "Moderate Buy" and a consensus price target of $255.35.

Insider Transactions at Veeva Systems

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 value of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value 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 $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company's stock.

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.