Y.D. More Investments Ltd Sells 1,470 Shares of Veeva Systems Inc. (NYSE:VEEV)

Y.D. More Investments Ltd lowered its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,073 shares of the technology company's stock after selling 1,470 shares during the period. Veeva Systems comprises 0.7% of Y.D. More Investments Ltd's holdings, making the stock its 28th biggest holding. Y.D. More Investments Ltd's holdings in Veeva Systems were worth $7,584,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock valued at $744,084,000 after buying an additional 1,392,256 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after purchasing an additional 1,267,061 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after purchasing an additional 1,081,501 shares in the last quarter. FMR LLC boosted its holdings in shares of Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock worth $625,674,000 after purchasing an additional 610,021 shares during the period. Finally, Seilern Investment Management Ltd purchased a new position in Veeva Systems during the fourth quarter valued at approximately $94,957,000. Institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VEEV. KeyCorp lowered their price target on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Morgan Stanley boosted their target price on Veeva Systems from $183.00 to $195.00 and gave the company an "underweight" rating in a research note on Tuesday, December 17th. Canaccord Genuity Group raised their price target on Veeva Systems from $210.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their price target on Veeva Systems from $275.00 to $285.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Finally, Stephens started coverage on shares of Veeva Systems in a research report on Friday, December 20th. They set an "overweight" rating and a $280.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $253.96.

Veeva Systems Price Performance

Shares of VEEV traded down $2.27 during midday trading on Friday, hitting $237.16. The stock had a trading volume of 714,333 shares, compared to its average volume of 1,002,875. The firm has a market cap of $38.50 billion, a price-to-earnings ratio of 58.56, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. The company has a 50 day simple moving average of $224.48 and a two-hundred day simple moving average of $214.35. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 1,694 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 10.50% of the company's stock.

About Veeva Systems

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.