Veeva Systems Inc. (NYSE:VEEV) Holdings Trimmed by Ownership Capital B.V.

Ownership Capital B.V. lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 631,286 shares of the technology company’s stock after selling 128,820 shares during the quarter. Veeva Systems accounts for 4.9% of Ownership Capital B.V.’s investment portfolio, making the stock its 10th largest holding. Ownership Capital B.V. owned 0.39% of Veeva Systems worth $132,728,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in VEEV. Cardinal Capital Management grew its holdings in Veeva Systems by 0.3% during the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock worth $3,307,000 after acquiring an additional 44 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Veeva Systems by 0.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after purchasing an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Veeva Systems by 1.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after purchasing an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Finally, CHICAGO TRUST Co NA grew its position in Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research report on Friday, January 17th. Mizuho initiated coverage on Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective for the company. Canaccord Genuity Group boosted their target price on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Piper Sandler raised their price target on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Bank of America boosted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $253.96.

Veeva Systems Stock Performance

Veeva Systems stock opened at $229.25 on Thursday. The company has a market cap of $37.22 billion, a price-to-earnings ratio of 56.61, a PEG ratio of 1.92 and a beta of 0.85. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm has a 50 day moving average price of $223.98 and a 200 day moving average price of $216.94.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems 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.