Oarsman Capital Inc. Sells 50 Shares of Veeva Systems Inc. (NYSE:VEEV)

Oarsman Capital Inc. decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 781 shares of the technology company’s stock after selling 50 shares during the quarter. Oarsman Capital Inc.’s holdings in Veeva Systems were worth $164,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Veeva Systems by 1.5% in the third quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after acquiring an additional 47,872 shares during the period. JPMorgan Chase & Co. lifted its holdings in Veeva Systems by 17.5% in the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company’s stock worth $631,935,000 after purchasing an additional 447,041 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Veeva Systems by 36.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock worth $623,186,000 after purchasing an additional 784,741 shares during the period. Geode Capital Management LLC grew its holdings in Veeva Systems by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,803,344 shares of the technology company’s stock valued at $589,208,000 after buying an additional 38,108 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Veeva Systems by 6.8% during the fourth quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company’s stock valued at $447,937,000 after buying an additional 135,492 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 3.6 %

Shares of VEEV opened at $213.59 on Friday. The firm has a fifty day moving average price of $231.73 and a 200-day moving average price of $223.06. The firm has a market capitalization of $34.75 billion, a P/E ratio of 52.74, a P/E/G ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several research analyst reports. Scotiabank raised their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Truist Financial raised their price objective on Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research report on Thursday, March 6th. Robert W. Baird increased their price target on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, KeyCorp decreased their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $256.52.

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.