Tran Capital Management L.P. Has $22.21 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Tran Capital Management L.P. decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 6.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 105,613 shares of the technology company’s stock after selling 7,445 shares during the period. Veeva Systems comprises approximately 2.5% of Tran Capital Management L.P.’s portfolio, making the stock its 18th largest position. Tran Capital Management L.P.’s holdings in Veeva Systems were worth $22,205,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in VEEV. Massachusetts Financial Services Co. MA grew its stake in Veeva Systems by 64.7% in 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 acquiring an additional 1,392,256 shares during the period. State Street Corp grew its position in shares of Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after purchasing an additional 47,872 shares during the period. FMR LLC increased its stake in Veeva Systems by 25.7% during the 3rd 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 in the last quarter. Geode Capital Management LLC raised its holdings in Veeva Systems by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock worth $579,630,000 after buying an additional 149,807 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after buying an additional 1,081,501 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV stock opened at $223.37 on Friday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock has a market cap of $36.26 billion, a price-to-earnings ratio of 55.15, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84. The company has a fifty day moving average price of $221.63 and a two-hundred day moving average price of $210.89.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of research analyst reports. Piper Sandler raised their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. BNP Paribas began coverage on Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target on the stock. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $261.00 to $200.00 in a report on Thursday. Guggenheim boosted their target price on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Canaccord Genuity Group raised their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $253.96.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by 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.