Axa S.A. Sells 51,822 Shares of Veeva Systems Inc. (NYSE:VEEV)

Axa S.A. reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 387,055 shares of the technology company’s stock after selling 51,822 shares during the quarter. Axa S.A.’s holdings in Veeva Systems were worth $81,378,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after buying an additional 1,267,061 shares during the last quarter. Barclays PLC grew its position in shares of Veeva Systems by 18.2% during the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company’s stock valued at $38,870,000 after acquiring an additional 28,497 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Veeva Systems during the 3rd quarter worth approximately $2,131,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Veeva Systems in the 3rd quarter worth approximately $168,000. Finally, Tidal Investments LLC lifted its stake in Veeva Systems by 77.1% in the third quarter. Tidal Investments LLC now owns 22,330 shares of the technology company’s stock valued at $4,686,000 after purchasing an additional 9,724 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

VEEV has been the subject of a number of recent research reports. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Scotiabank boosted their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. KeyCorp cut their target price on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Robert W. Baird boosted their price target on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $254.92.

Veeva Systems Stock Performance

Shares of VEEV opened at $236.63 on Friday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm’s 50-day simple moving average is $226.53 and its two-hundred day simple moving average is $224.66. The stock has a market cap of $38.50 billion, a PE ratio of 58.43, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the transaction, the insider now directly owns 25,889 shares of the company’s stock, valued at $5,720,692.33. The trade was a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 in the last ninety days. 10.50% of the stock is currently owned by corporate insiders.

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.