Victory Capital Management Inc. Trims Position in Veeva Systems Inc. (NYSE:VEEV)

Victory Capital Management Inc. lowered its holdings in Veeva Systems Inc. (NYSE:VEEV) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 200,280 shares of the technology company’s stock after selling 29,747 shares during the period. Victory Capital Management Inc.’s holdings in Veeva Systems were worth $36,653,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Facet Wealth Inc. grew its holdings in Veeva Systems by 3.2% in the 4th quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock valued at $323,000 after buying an additional 48 shares during the period. Western Pacific Wealth Management LP boosted its holdings in shares of Veeva Systems by 23.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after purchasing an additional 58 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Veeva Systems by 14.7% during the 4th quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock valued at $102,000 after buying an additional 68 shares during the period. Simplicity Wealth LLC increased its holdings in shares of Veeva Systems by 1.7% during the 2nd quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock worth $737,000 after buying an additional 69 shares during the last quarter. Finally, Wedmont Private Capital raised its position in shares of Veeva Systems by 3.8% in the 1st quarter. Wedmont Private Capital now owns 1,981 shares of the technology company’s stock worth $429,000 after buying an additional 72 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.50% of the stock is currently owned by insiders.

Veeva Systems Trading Up 3.1 %

VEEV stock opened at $222.66 on Tuesday. The firm has a 50 day simple moving average of $193.05 and a 200-day simple moving average of $201.79. The company has a market capitalization of $35.99 billion, a P/E ratio of 65.68, a PEG ratio of 2.11 and a beta of 0.81. Veeva Systems Inc. has a twelve month low of $162.72 and a twelve month high of $236.90.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Raymond James upped their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Guggenheim increased their target price on shares of Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Bank of America raised their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Stifel Nicolaus decreased their price objective on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Finally, Truist Financial raised their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.96.

Veeva Systems 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.