Veeva Systems Inc. (NYSE:VEEV) Shares Sold by MML Investors Services LLC

MML Investors Services LLC decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,124 shares of the technology company's stock after selling 1,662 shares during the period. MML Investors Services LLC's holdings in Veeva Systems were worth $13,272,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Veeva Systems by 78.4% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,985 shares of the technology company's stock valued at $1,469,000 after purchasing an additional 3,070 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Veeva Systems by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 473,154 shares of the technology company's stock valued at $99,490,000 after buying an additional 35,348 shares in the last quarter. Dnca Finance lifted its position in shares of Veeva Systems by 120.6% during the 4th quarter. Dnca Finance now owns 35,300 shares of the technology company's stock valued at $7,422,000 after acquiring an additional 19,300 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Veeva Systems by 9.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,362 shares of the technology company's stock worth $286,000 after acquiring an additional 120 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Veeva Systems by 10.4% in the 4th quarter. First Trust Advisors LP now owns 634,840 shares of the technology company's stock worth $133,475,000 after acquiring an additional 59,567 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Up 2.7 %

NYSE:VEEV opened at $215.85 on Wednesday. The company's 50 day moving average is $226.48 and its 200-day moving average is $223.57. The firm has a market cap of $35.12 billion, a price-to-earnings ratio of 53.30, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Scotiabank upped their price target on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating 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 cut their target price for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Two investment 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $256.32.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was 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 of the company's stock, valued at $1,192,565. This represents a 41.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock worth $1,284,917 in the last quarter. 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.

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