Veeva Systems Inc. (NYSE:VEEV) Position Trimmed by Regal Investment Advisors LLC

Regal Investment Advisors LLC decreased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,650 shares of the technology company’s stock after selling 247 shares during the quarter. Regal Investment Advisors LLC’s holdings in Veeva Systems were worth $557,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Veeva Systems in the 4th quarter worth about $25,000. Smithfield Trust Co raised its holdings in 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 buying an additional 80 shares during the period. Avion Wealth boosted its holdings in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Veeva Systems in the fourth quarter worth approximately $31,000. Institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on VEEV shares. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and reduced their price target for the company from $261.00 to $200.00 in a research report on Thursday, January 23rd. Truist Financial raised their target price on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Morgan Stanley raised their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research report on Thursday, March 6th. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $256.32.

Insider Buying and Selling at Veeva Systems

In other news, 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 transaction, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the sale, the director now owns 5,500 shares of the company’s stock, valued at approximately $1,192,565. The trade was a 41.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock worth $1,284,917 over the last 90 days. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $221.01 on Thursday. The business’s 50-day simple moving average is $228.12 and its 200-day simple moving average is $223.25. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The firm has a market cap of $35.96 billion, a price-to-earnings ratio of 54.57, a P/E/G ratio of 1.89 and a beta of 1.05.

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.