Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Sycomore Asset Management

Sycomore Asset Management trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 40,273 shares of the technology company’s stock after selling 2,169 shares during the quarter. Sycomore Asset Management’s holdings in Veeva Systems were worth $8,434,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in VEEV. General American Investors Co. Inc. acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at $5,133,000. Toronto Dominion Bank increased its holdings in Veeva Systems by 39.1% in the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after buying an additional 5,673 shares during the last quarter. Procyon Advisors LLC acquired a new stake in Veeva Systems in the third quarter valued at $712,000. Principal Financial Group Inc. lifted its holdings in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after buying an additional 1,267,061 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Veeva Systems by 3.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after acquiring an additional 2,733 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’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 sale, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of several research analyst reports. Evercore ISI raised their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Royal Bank of Canada raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Morgan Stanley upped their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a report on Tuesday, December 17th. StockNews.com lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Truist Financial decreased their price objective on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Trading Down 0.9 %

Shares of VEEV opened at $237.16 on Monday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market capitalization of $38.50 billion, a P/E ratio of 58.56, a PEG ratio of 1.97 and a beta of 0.85. The firm’s 50-day moving average is $224.48 and its two-hundred day moving average is $214.55.

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.