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

Hunter Associates Investment Management LLC cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,047 shares of the technology company’s stock after selling 96 shares during the period. Hunter Associates Investment Management LLC’s holdings in Veeva Systems were worth $217,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Oak Harvest Investment Services acquired a new position in Veeva Systems in the fourth quarter valued at approximately $1,051,000. Mediolanum International Funds Ltd raised its position in Veeva Systems by 11.2% in the fourth quarter. Mediolanum International Funds Ltd now owns 65,946 shares of the technology company’s stock valued at $13,911,000 after purchasing an additional 6,620 shares during the period. Gilbert & Cook Inc. raised its position in Veeva Systems by 11.0% in the fourth quarter. Gilbert & Cook Inc. now owns 2,393 shares of the technology company’s stock valued at $503,000 after purchasing an additional 237 shares during the period. OLD National Bancorp IN raised its position in Veeva Systems by 2.4% in the fourth quarter. OLD National Bancorp IN now owns 49,629 shares of the technology company’s stock valued at $10,434,000 after purchasing an additional 1,158 shares during the period. Finally, Strategic Planning Group LLC raised its position in Veeva Systems by 2.0% in the fourth quarter. Strategic Planning Group LLC now owns 21,068 shares of the technology company’s stock valued at $4,430,000 after purchasing an additional 411 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. KeyCorp cut their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial cut their target price on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. StockNews.com lowered Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. upped their price objective on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, Stephens initiated coverage on Veeva Systems in a report on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $253.96.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Stock Performance

VEEV opened at $233.25 on Friday. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The stock has a market capitalization of $37.87 billion, a P/E ratio of 57.59, a price-to-earnings-growth ratio of 2.04 and a beta of 0.84. The business’s 50-day simple moving average is $223.22 and its 200-day simple moving average is $212.20.

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.