Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Decreased by Bamco Inc. NY

Bamco Inc. NY lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,262 shares of the technology company’s stock after selling 20,875 shares during the period. Bamco Inc. NY’s holdings in Veeva Systems were worth $82,263,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings 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 valued at $25,000 after buying an additional 50 shares during the last quarter. Centricity Wealth Management LLC bought a new position in Veeva Systems during the fourth quarter valued at about $25,000. Smithfield Trust Co lifted its position in shares of Veeva Systems by 145.5% in the fourth 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 last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth about $31,000. Finally, Avion Wealth increased its holdings in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VEEV shares. Morgan Stanley boosted their price objective on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Piper Sandler cut their target price on shares of Veeva Systems from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Truist Financial increased their price target on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a report on Thursday, March 6th. Finally, Stephens restated an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $254.92.

Veeva Systems Trading Up 2.0 %

NYSE:VEEV opened at $236.63 on Friday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The firm has a market capitalization of $38.50 billion, a price-to-earnings ratio of 58.43, a PEG ratio of 1.89 and a beta of 1.05. The business’s 50-day moving average price is $226.53 and its two-hundred day moving average price is $224.71.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 787 shares of the business’s 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 sale, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock valued at $1,284,917 in the last 90 days. 10.50% of the stock is owned by insiders.

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.