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

Reynders McVeigh Capital Management LLC lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 39.0% during the third quarter, Holdings Channel reports. The firm owned 7,018 shares of the technology company’s stock after selling 4,485 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Veeva Systems were worth $1,473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. Massachusetts Financial Services Co. MA raised its holdings in Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after purchasing an additional 1,392,256 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after acquiring an additional 1,267,061 shares during the period. FMR LLC increased its holdings in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Veeva Systems by 761.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 297,771 shares of the technology company’s stock valued at $62,493,000 after acquiring an additional 263,214 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Veeva Systems in the 3rd quarter valued at $50,584,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VEEV shares. BNP Paribas started coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Friday, November 8th. Mizuho initiated coverage on shares of Veeva Systems in a report on Wednesday. They issued an “outperform” rating and a $275.00 target price on the stock. Raymond James lifted their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, TD Cowen lifted their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $238.44.

Veeva Systems Stock Performance

Shares of NYSE VEEV opened at $226.45 on Wednesday. The firm has a market capitalization of $36.67 billion, a P/E ratio of 60.39, a PEG ratio of 2.20 and a beta of 0.82. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68. The company’s fifty day moving average is $216.41 and its two-hundred day moving average is $202.16.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

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.