Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Regal Investment Advisors LLC

Regal Investment Advisors LLC cut its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 8.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,650 shares of the technology company’s stock after selling 247 shares during the period. Regal Investment Advisors LLC’s holdings in Veeva Systems were worth $557,000 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. Cardinal Capital Management boosted its position in Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock valued at $3,307,000 after buying an additional 44 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Veeva Systems by 72.5% in the fourth 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. Patriot Financial Group Insurance Agency LLC grew its stake in Veeva Systems by 0.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock valued at $1,467,000 after purchasing an additional 51 shares in the last quarter. CHICAGO TRUST Co NA increased its holdings in Veeva Systems by 2.9% during the 4th quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after purchasing an additional 53 shares during the last quarter. Finally, Old North State Wealth Management LLC increased its holdings in Veeva Systems by 0.4% during the 4th quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company’s stock worth $3,228,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, the insider now directly owns 25,889 shares of the company’s stock, valued at approximately $5,720,692.33. This trade represents a 4.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This trade represents a 41.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock worth $1,284,917 in the last 90 days. Corporate insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on VEEV shares. Morgan Stanley raised their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research report on Thursday, March 6th. Truist Financial raised their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a report on Thursday, March 6th. The Goldman Sachs Group downgraded 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 research report on Thursday, January 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, Scotiabank boosted their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $256.32.

Veeva Systems Stock Performance

NYSE:VEEV opened at $221.01 on Thursday. The stock has a market cap of $35.96 billion, a price-to-earnings ratio of 54.57, a PEG ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The business has a fifty day moving average of $228.12 and a 200-day moving average of $223.25.

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.