Veeva Systems Inc. (NYSE:VEEV) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,035 shares of the technology company’s stock after selling 267 shares during the period. DAVENPORT & Co LLC’s holdings in Veeva Systems were worth $2,530,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Tokio Marine Asset Management Co. Ltd. increased its stake in Veeva Systems by 8.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,688 shares of the technology company’s stock valued at $986,000 after buying an additional 381 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Veeva Systems by 700.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,171 shares of the technology company’s stock valued at $1,297,000 after buying an additional 5,400 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Veeva Systems in the 4th quarter worth approximately $309,000. New Wave Wealth Advisors LLC acquired a new position in shares of Veeva Systems in the 4th quarter worth approximately $180,000. Finally, Oak Harvest Investment Services acquired a new position in shares of Veeva Systems in the 4th quarter worth approximately $1,051,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Up 0.1 %

NYSE VEEV opened at $233.47 on Wednesday. The stock has a market capitalization of $37.90 billion, a PE ratio of 57.65, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. The company has a 50 day moving average price of $223.68 and a two-hundred day moving average price of $213.30. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on VEEV. Bank of America lifted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Truist Financial lowered their price objective on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. Barclays lifted their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Finally, Citigroup lifted their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $253.96.

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.