Veeva Systems Inc. (NYSE:VEEV) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 38.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,275 shares of the technology company’s stock after selling 1,450 shares during the quarter. New England Research & Management Inc.’s holdings in Veeva Systems were worth $478,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings 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 valued at $25,000 after purchasing an additional 50 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Veeva Systems in the 3rd quarter valued at about $26,000. True Wealth Design LLC lifted its holdings in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems in the 4th quarter valued at about $31,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Veeva Systems in the 3rd quarter valued at about $49,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction 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 represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Stock Up 0.2 %

NYSE:VEEV opened at $232.65 on Thursday. The company has a market capitalization of $37.77 billion, a PE ratio of 57.44, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a fifty day simple moving average of $222.31 and a 200-day simple moving average of $211.88.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup boosted their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. Bank of America upped their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Barclays upped their price objective on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus upped their price objective on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.96.

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.