Veeva Systems Inc. (NYSE:VEEV) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,299 shares of the technology company’s stock after selling 182 shares during the period. MetLife Investment Management LLC’s holdings in Veeva Systems were worth $1,952,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems during the 3rd quarter worth $26,000. Blue Trust Inc. increased its position in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC purchased a new stake in shares of Veeva Systems in the 2nd quarter valued at about $35,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at about $49,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Veeva Systems in the 2nd quarter valued at about $46,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of research reports. Citigroup boosted their price objective on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. TD Cowen increased their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Mizuho initiated coverage on shares of Veeva Systems in a research note on Wednesday. They issued an “outperform” rating and a $275.00 price objective on the stock. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Finally, BNP Paribas began coverage on Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $238.44.

Veeva Systems Price Performance

NYSE VEEV opened at $231.66 on Friday. The business has a 50 day moving average price of $217.50 and a 200 day moving average price of $202.61. The company has a market capitalization of $37.51 billion, a P/E ratio of 61.78, a PEG ratio of 2.20 and a beta of 0.82. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is 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.