Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Decreased by NewEdge Advisors LLC

NewEdge Advisors LLC decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 24.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,339 shares of the technology company’s stock after selling 2,101 shares during the period. NewEdge Advisors LLC’s holdings in Veeva Systems were worth $1,333,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB grew its position in shares of Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Veeva Systems during the fourth quarter worth $25,000. Smithfield Trust Co boosted its holdings in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares during the period. Retirement Wealth Solutions LLC bought a new stake in Veeva Systems during the fourth quarter valued at $31,000. Finally, Avion Wealth raised its holdings in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after purchasing an additional 127 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the sale, the insider now owns 25,889 shares in the company, valued at approximately $5,720,692.33. The trade was a 4.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock worth $1,284,917 in the last ninety days. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Trading Up 2.2 %

Shares of Veeva Systems stock opened at $220.47 on Thursday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company’s 50-day moving average price is $226.21 and its two-hundred day moving average price is $223.55. The stock has a market cap of $35.87 billion, a PE ratio of 54.44, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on VEEV shares. Scotiabank boosted their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. KeyCorp lowered their target price on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Piper Sandler cut their price target on Veeva Systems from $290.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, Morgan Stanley raised their target price on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $254.92.

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.