Veeva Systems Inc. (NYSE:VEEV) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 442,078 shares of the technology company’s stock after selling 24,056 shares during the quarter. Veeva Systems comprises about 1.4% of TimesSquare Capital Management LLC’s portfolio, making the stock its 13th largest position. TimesSquare Capital Management LLC’s holdings in Veeva Systems were worth $92,947,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its stake in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems in the 3rd quarter worth approximately $26,000. True Wealth Design LLC raised its position in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Avion Wealth lifted its stake in 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 period. Finally, Retirement Wealth Solutions LLC acquired a new stake in Veeva Systems during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on VEEV. Barclays raised their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Wells Fargo & Company lifted their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Royal Bank of Canada upped their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Mizuho initiated coverage on Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. Finally, Morgan Stanley boosted their price target on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.96.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

NYSE VEEV opened at $233.06 on Wednesday. The business has a fifty day moving average price of $224.24 and a 200 day moving average price of $216.60. The company has a market cap of $37.84 billion, a P/E ratio of 57.54, a P/E/G ratio of 1.93 and a beta of 0.85. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

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.