Trexquant Investment LP lowered its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,426 shares of the technology company's stock after selling 10,217 shares during the quarter. Trexquant Investment LP's holdings in Veeva Systems were worth $16,489,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank boosted its position in Veeva Systems by 39.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock valued at $4,235,000 after buying an additional 5,673 shares during the period. Principal Financial Group Inc. increased its holdings in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. Smith Group Asset Management LLC lifted its holdings in shares of Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock worth $17,360,000 after buying an additional 1,749 shares during the period. Everence Capital Management Inc. bought a new position in shares of Veeva Systems during the 4th quarter worth $816,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after acquiring an additional 163 shares in the last quarter. Institutional investors own 88.20% of the company's stock.
Insider Buying and Selling
In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.50% of the company's stock.
Analyst Ratings Changes
A number of research firms have commented on VEEV. KeyCorp cut their target price on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Robert W. Baird increased their target price on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Truist Financial boosted their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a research report on Thursday, March 6th. Finally, Morgan Stanley lifted their target price on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research note 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $256.52.
Read Our Latest Stock Report on Veeva Systems
Veeva Systems Stock Performance
VEEV stock traded down $7.90 during trading on Friday, reaching $213.59. 1,939,659 shares of the company were exchanged, compared to its average volume of 1,050,037. The stock's 50 day moving average price is $231.73 and its 200 day moving average price is $223.06. 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 $34.75 billion, a P/E ratio of 52.74, a PEG ratio of 1.89 and a beta of 1.05.
Veeva Systems Profile
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Free Report)
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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