Shell Asset Management Co. Cuts Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Shell Asset Management Co. trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,659 shares of the technology company’s stock after selling 1,062 shares during the quarter. Shell Asset Management Co.’s holdings in Veeva Systems were worth $1,667,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Personal CFO Solutions LLC lifted its holdings in shares of Veeva Systems by 18.4% during the 4th quarter. Personal CFO Solutions LLC now owns 1,292 shares of the technology company’s stock valued at $249,000 after purchasing an additional 201 shares during the last quarter. Platinum Investment Management Ltd. boosted its holdings in Veeva Systems by 325.3% in the fourth quarter. Platinum Investment Management Ltd. now owns 14,935 shares of the technology company’s stock worth $2,875,000 after acquiring an additional 11,423 shares in the last quarter. Seven Eight Capital LP grew its stake in shares of Veeva Systems by 182.5% during the fourth quarter. Seven Eight Capital LP now owns 8,515 shares of the technology company’s stock worth $1,639,000 after acquiring an additional 5,501 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Veeva Systems during the 4th quarter valued at approximately $32,000. Finally, Prudential PLC increased its position in shares of Veeva Systems by 86.4% in the 4th quarter. Prudential PLC now owns 67,992 shares of the technology company’s stock valued at $13,090,000 after acquiring an additional 31,517 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Trading Up 1.0 %

Shares of Veeva Systems stock opened at $184.98 on Tuesday. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90. The firm’s 50-day moving average price is $201.55 and its 200 day moving average price is $204.44. The firm has a market capitalization of $29.84 billion, a PE ratio of 54.57, a P/E/G ratio of 1.81 and a beta of 0.80.

Insider Transactions at Veeva Systems

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the sale, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alan Mateo sold 3,391 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock valued at $4,192,363 over the last ninety days. Insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VEEV shares. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a report on Wednesday, March 27th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Barclays decreased their price objective on Veeva Systems from $245.00 to $220.00 and set an “overweight” rating for the company in a report on Friday, May 31st. Citigroup dropped their target price on Veeva Systems from $274.00 to $256.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Finally, UBS Group decreased their price target on Veeva Systems from $235.00 to $185.00 and set a “neutral” rating for the company in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $228.25.

Get Our Latest Research Report on Veeva Systems

About Veeva Systems

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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