Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Ownership Capital B.V.

Ownership Capital B.V. decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 16.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 631,286 shares of the technology company’s stock after selling 128,820 shares during the quarter. Veeva Systems comprises approximately 4.9% of Ownership Capital B.V.’s holdings, making the stock its 10th biggest holding. Ownership Capital B.V.’s holdings in Veeva Systems were worth $132,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. General American Investors Co. Inc. acquired a new stake in Veeva Systems in the third quarter valued at approximately $5,133,000. Toronto Dominion Bank lifted its stake in shares of Veeva Systems by 39.1% in the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after acquiring an additional 5,673 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Veeva Systems by 138.9% in the third 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 last quarter. Oppenheimer Asset Management Inc. increased its holdings in Veeva Systems by 3.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after purchasing an additional 2,733 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Veeva Systems by 46.4% in the 3rd quarter. Assetmark Inc. now owns 48,205 shares of the technology company’s stock valued at $10,117,000 after purchasing an additional 15,289 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VEEV shares. Wells Fargo & Company raised their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Royal Bank of Canada upped their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Scotiabank increased their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Mizuho started coverage on Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price for the company. Finally, Stephens started coverage on shares of Veeva Systems in a research note on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Insider Activity

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

Veeva Systems Stock Down 1.5 %

NYSE VEEV opened at $229.25 on Thursday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The stock has a market cap of $37.22 billion, a P/E ratio of 56.61, a PEG ratio of 1.92 and a beta of 0.85. The company’s 50-day simple moving average is $223.98 and its 200 day simple moving average is $216.94.

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.