Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Blair William & Co. IL

Blair William & Co. IL lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 7.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,351,717 shares of the technology company’s stock after selling 107,381 shares during the quarter. Blair William & Co. IL’s holdings in Veeva Systems were worth $247,378,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its holdings in Veeva Systems by 8.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,388 shares of the technology company’s stock worth $1,901,000 after purchasing an additional 819 shares during the period. Amalgamated Bank raised its position in shares of Veeva Systems by 2.1% during the 2nd quarter. Amalgamated Bank now owns 9,968 shares of the technology company’s stock worth $1,824,000 after buying an additional 201 shares in the last quarter. Argent Trust Co lifted its stake in shares of Veeva Systems by 12.6% in the 2nd quarter. Argent Trust Co now owns 5,498 shares of the technology company’s stock worth $1,006,000 after acquiring an additional 616 shares during the period. Montag & Caldwell LLC boosted its holdings in shares of Veeva Systems by 3.3% in the second quarter. Montag & Caldwell LLC now owns 3,395 shares of the technology company’s stock valued at $621,000 after acquiring an additional 110 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Veeva Systems during the second quarter valued at approximately $563,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VEEV shares. Morgan Stanley cut their target price on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. BTIG Research initiated coverage on Veeva Systems in a report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price objective for the company. TD Cowen lifted their target price on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Citigroup upped their price target on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Guggenheim raised their price objective on shares of Veeva Systems from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.96.

Veeva Systems Price Performance

NYSE VEEV opened at $214.80 on Wednesday. The firm has a market capitalization of $34.72 billion, a price-to-earnings ratio of 63.36, a price-to-earnings-growth ratio of 2.14 and a beta of 0.81. The company has a 50 day simple moving average of $197.48 and a 200-day simple moving average of $201.61. Veeva Systems Inc. has a 52-week low of $162.72 and a 52-week high of $236.90.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 10.50% of the company’s stock.

About Veeva Systems

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.