Natixis Trims Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Natixis decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 85.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 870 shares of the technology company's stock after selling 4,921 shares during the quarter. Natixis' holdings in Veeva Systems were worth $183,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Veeva Systems by 7.8% during the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company's stock worth $675,609,000 after acquiring an additional 232,116 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Veeva Systems by 17.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company's stock worth $631,935,000 after purchasing an additional 447,041 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after purchasing an additional 784,741 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Veeva Systems by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,803,344 shares of the technology company's stock valued at $589,208,000 after buying an additional 38,108 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Veeva Systems by 6.8% in the 4th quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company's stock worth $447,937,000 after buying an additional 135,492 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Down 0.8 %

Shares of NYSE VEEV traded down $1.92 during midday trading on Monday, hitting $225.62. The stock had a trading volume of 1,122,036 shares, compared to its average volume of 1,073,585. The business's 50 day moving average is $225.97 and its 200-day moving average is $224.10. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a market cap of $36.71 billion, a P/E ratio of 55.71, a PEG ratio of 1.89 and a beta of 1.05.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the business'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 of the company's stock, valued at approximately $1,192,565. This represents a 41.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock worth $1,284,917 in the last three months. Insiders own 10.50% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on VEEV. The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and decreased their price target for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Truist Financial lifted their price objective on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a report on Thursday, March 6th. Piper Sandler reduced their price target on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and set a $270.00 price objective on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Scotiabank increased 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.92.

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.