Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Colonial Trust Co SC

Colonial Trust Co SC increased its position in Veeva Systems Inc. (NYSE:VEEV) by 30.3% in the fourth quarter, Holdings Channel reports. The firm owned 241 shares of the technology company’s stock after purchasing an additional 56 shares during the quarter. Colonial Trust Co SC’s holdings in Veeva Systems were worth $51,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC lifted its holdings in Veeva Systems by 31.7% during the 4th quarter. CoreCap Advisors LLC now owns 249 shares of the technology company’s stock worth $52,000 after buying an additional 60 shares during the last quarter. Crestline Management LP bought a new position in Veeva Systems during the fourth quarter worth $2,303,000. Centiva Capital LP lifted its stake in Veeva Systems by 24.7% during the fourth quarter. Centiva Capital LP now owns 12,428 shares of the technology company’s stock worth $2,613,000 after purchasing an additional 2,464 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Veeva Systems by 20.8% in the fourth quarter. Captrust Financial Advisors now owns 9,497 shares of the technology company’s stock worth $1,997,000 after purchasing an additional 1,632 shares during the period. Finally, Cary Street Partners Financial LLC bought a new stake in Veeva Systems during the fourth quarter valued at $8,692,000. 88.20% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,200 shares of the company’s 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 sale, the insider now directly owns 25,889 shares of the company’s stock, valued at $5,720,692.33. This represents a 4.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction dated 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 transaction, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,869 shares of company stock worth $1,284,917. Corporate insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the subject of several research reports. The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and decreased their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Scotiabank upped their target price on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Stephens reissued an “overweight” rating and issued a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Morgan Stanley boosted their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research report on Thursday, March 6th. Finally, Truist Financial raised their target price on Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $254.92.

Veeva Systems Stock Down 1.2 %

Shares of VEEV stock opened at $236.60 on Friday. The stock has a 50-day simple moving average of $227.98 and a 200 day simple moving average of $225.25. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The stock has a market capitalization of $38.49 billion, a P/E ratio of 58.42, a P/E/G ratio of 1.89 and a beta of 0.96.

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.