Wedbush Securities Inc. Has $306,000 Holdings in Veeva Systems Inc. (NYSE:VEEV)

Wedbush Securities Inc. reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 34.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,457 shares of the technology company’s stock after selling 782 shares during the quarter. Wedbush Securities Inc.’s holdings in Veeva Systems were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Aviva PLC raised its stake in Veeva Systems by 485.3% during the 4th quarter. Aviva PLC now owns 95,190 shares of the technology company’s stock valued at $20,014,000 after purchasing an additional 78,927 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Veeva Systems by 29.7% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 7,830 shares of the technology company’s stock valued at $1,646,000 after buying an additional 1,795 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Veeva Systems in the 4th quarter valued at $9,244,000. Wells Fargo & Company MN raised its stake in shares of Veeva Systems by 0.7% in the 4th quarter. Wells Fargo & Company MN now owns 257,421 shares of the technology company’s stock valued at $54,123,000 after buying an additional 1,817 shares in the last quarter. Finally, Pitcairn Co. raised its stake in shares of Veeva Systems by 0.9% in the 4th quarter. Pitcairn Co. now owns 9,169 shares of the technology company’s stock valued at $1,928,000 after buying an additional 83 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Up 3.3 %

Shares of NYSE VEEV opened at $216.33 on Thursday. The firm has a market capitalization of $35.20 billion, a PE ratio of 53.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm’s 50-day moving average is $229.83 and its 200-day moving average is $222.97.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of recent research reports. Truist Financial increased their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday, March 6th. KeyCorp dropped their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and dropped their price objective for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Morgan Stanley upped their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday, March 6th. Finally, Scotiabank upped their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $256.52.

Insider Activity

In related news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

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.