Veeva Systems Inc. (NYSE:VEEV) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 23.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,411 shares of the technology company’s stock after selling 16,003 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Veeva Systems were worth $9,678,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Western Pacific Wealth Management LP raised its stake in Veeva Systems by 23.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after purchasing an additional 58 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Veeva Systems by 14.7% in the 4th quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock valued at $102,000 after purchasing an additional 68 shares during the last quarter. Simplicity Wealth LLC raised its stake in Veeva Systems by 1.7% in the 2nd quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock valued at $737,000 after purchasing an additional 69 shares during the last quarter. Wedmont Private Capital raised its stake in Veeva Systems by 3.8% in the 1st quarter. Wedmont Private Capital now owns 1,981 shares of the technology company’s stock valued at $429,000 after purchasing an additional 72 shares during the last quarter. Finally, Davidson Capital Management Inc. raised its stake in Veeva Systems by 0.6% in the 1st quarter. Davidson Capital Management Inc. now owns 11,406 shares of the technology company’s stock valued at $2,643,000 after purchasing an additional 72 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

VEEV stock opened at $217.06 on Tuesday. The firm has a market capitalization of $35.09 billion, a P/E ratio of 64.03, a P/E/G ratio of 2.14 and a beta of 0.81. The business’s 50-day moving average is $196.82 and its two-hundred day moving average is $201.66. Veeva Systems Inc. has a 1 year low of $162.72 and a 1 year high of $236.90.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

VEEV has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Thursday, August 29th. Piper Sandler upped their target price on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Guggenheim upped their target price on Veeva Systems from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, July 18th. TD Cowen upped their target price on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Finally, UBS Group upped their target price on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.96.

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.