Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Exchange Capital Management Inc.

Exchange Capital Management Inc. cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 29,664 shares of the technology company’s stock after selling 120 shares during the period. Veeva Systems makes up approximately 1.0% of Exchange Capital Management Inc.’s holdings, making the stock its 28th largest holding. Exchange Capital Management Inc.’s holdings in Veeva Systems were worth $6,237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB increased its holdings in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems in the fourth quarter worth $25,000. True Wealth Design LLC raised its holdings in Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Avion Wealth boosted its stake in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Veeva Systems during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.2 %

Shares of NYSE:VEEV opened at $226.29 on Tuesday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company’s fifty day moving average is $223.79 and its 200 day moving average is $218.15. The stock has a market cap of $36.74 billion, a PE ratio of 55.87, a PEG ratio of 1.89 and a beta of 0.85.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on VEEV shares. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Barclays lifted their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Scotiabank upped their price target 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. Citigroup lifted their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and dropped their target price for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.08.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is owned by corporate insiders.

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.