Headlands Technologies LLC Sells 5,097 Shares of Veeva Systems Inc. (NYSE:VEEV)

Headlands Technologies LLC cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 57.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,725 shares of the technology company’s stock after selling 5,097 shares during the period. Headlands Technologies LLC’s holdings in Veeva Systems were worth $783,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp boosted its holdings in Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after acquiring an additional 47,872 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Veeva Systems by 17.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company’s stock worth $631,935,000 after purchasing an additional 447,041 shares during the last quarter. Principal Financial Group Inc. grew its position in Veeva Systems by 36.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock worth $623,186,000 after purchasing an additional 784,741 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Veeva Systems by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,803,344 shares of the technology company’s stock worth $589,208,000 after buying an additional 38,108 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Veeva Systems by 6.8% in the 4th quarter. Van ECK Associates Corp now owns 2,130,498 shares of the technology company’s stock worth $447,937,000 after buying an additional 135,492 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

VEEV stock opened at $226.51 on Thursday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a fifty day moving average price of $231.96 and a 200 day moving average price of $223.04. The firm has a market cap of $36.85 billion, a PE ratio of 55.93, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Piper Sandler increased their price target on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Mizuho initiated coverage on Veeva Systems in a research note on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price on the stock. Stifel Nicolaus increased their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Needham & Company LLC restated a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Finally, Truist Financial lifted their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $256.52.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 10.50% of the company’s stock.

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.