Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Oarsman Capital Inc.

Oarsman Capital Inc. lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 781 shares of the technology company’s stock after selling 50 shares during the period. Oarsman Capital Inc.’s holdings in Veeva Systems were worth $164,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted 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 acquiring an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at $25,000. Smithfield Trust Co grew its holdings in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in Veeva Systems in the 4th quarter valued at about $31,000. Finally, Avion Wealth lifted its position in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after buying an additional 127 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.50% of the stock is currently owned by insiders.

Veeva Systems Trading Down 3.6 %

VEEV stock opened at $213.59 on Friday. The business has a 50 day simple moving average of $231.73 and a 200-day simple moving average of $223.06. The company has a market capitalization of $34.75 billion, a P/E ratio of 52.74, a PEG ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Wall Street Analyst Weigh In

VEEV has been the topic of several recent analyst reports. Truist Financial upped 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 lowered Veeva Systems from a “buy” rating to a “sell” rating and lowered their price target for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Scotiabank raised 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $256.52.

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.