Wellington Management Group LLP Sells 4,352 Shares of Veeva Systems Inc. (NYSE:VEEV)

Wellington Management Group LLP trimmed its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,775,963 shares of the technology company's stock after selling 4,352 shares during the quarter. Wellington Management Group LLP owned about 1.09% of Veeva Systems worth $373,396,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Veeva Systems by 72.5% during the fourth 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 during the period. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems during the 4th quarter worth about $25,000. Smithfield Trust Co boosted its stake in Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after purchasing an additional 80 shares during the period. True Wealth Design LLC grew its holdings in Veeva Systems by 3,375.0% in 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. Finally, Retirement Wealth Solutions LLC bought a new position in Veeva Systems in the 4th quarter worth approximately $31,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 3.6 %

NYSE:VEEV traded down $7.90 during mid-day trading on Friday, reaching $213.59. 1,939,659 shares of the company were exchanged, compared to its average volume of 1,050,037. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a market cap of $34.75 billion, a PE ratio of 52.74, a PEG ratio of 1.89 and a beta of 1.05. The company has a fifty day moving average of $231.73 and a 200 day moving average of $223.12.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the company's 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 transaction, the senior vice president now owns 8,668 shares of the company's stock, valued at $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VEEV. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Stephens restated an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Morgan Stanley upped their price objective 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 boosted their price target on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. raised their price objective on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $256.52.

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.