Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Selective Wealth Management Inc.

Selective Wealth Management Inc. trimmed its position in Veeva Systems Inc. (NYSE:VEEV) by 6.7% in the fourth quarter, Holdings Channel reports. The firm owned 20,974 shares of the technology company’s stock after selling 1,503 shares during the quarter. Veeva Systems accounts for 1.8% of Selective Wealth Management Inc.’s holdings, making the stock its 12th biggest holding. Selective Wealth Management Inc.’s holdings in Veeva Systems were worth $4,423,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. Patriot Financial Group Insurance Agency LLC raised its stake in Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after acquiring an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after purchasing an additional 50 shares during the last quarter. Clearbridge Investments LLC grew its stake in Veeva Systems by 0.4% during the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after buying an additional 52 shares during the last quarter. CHICAGO TRUST Co NA increased its position in Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after buying an additional 53 shares during the period. Finally, Park Place Capital Corp lifted its stake in Veeva Systems by 11.5% in the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after buying an additional 59 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

VEEV opened at $216.67 on Friday. The company has a market capitalization of $35.18 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The business has a 50-day moving average of $222.68 and a 200-day moving average of $209.23.

Analyst Ratings Changes

A number of analysts recently weighed in on VEEV shares. Robert W. Baird increased their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Royal Bank of Canada increased their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Mizuho began coverage on Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. Barclays raised their price target on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup increased their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.74.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

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.