Livforsakringsbolaget Skandia Omsesidigt Reduces Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Livforsakringsbolaget Skandia Omsesidigt lessened its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 77.1% during the 4th quarter, Holdings Channel reports. The firm owned 1,100 shares of the technology company’s stock after selling 3,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Veeva Systems were worth $231,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC lifted its position in Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after purchasing an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after buying an additional 50 shares during the period. MassMutual Private Wealth & Trust FSB boosted 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 buying an additional 50 shares during the last quarter. CHICAGO TRUST Co NA boosted its stake in shares of Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after buying an additional 53 shares during the last quarter. Finally, Old North State Wealth Management LLC grew its holdings in Veeva Systems by 0.4% during the fourth quarter. Old North State Wealth Management LLC now owns 15,351 shares of the technology company’s stock worth $3,228,000 after acquiring an additional 55 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VEEV shares. Stephens began coverage on Veeva Systems in a research report on Friday, December 20th. They issued an “overweight” rating and a $280.00 price objective on the stock. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and lowered their price target for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Friday, January 17th. Morgan Stanley increased their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lifted their price target on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Price Performance

VEEV stock opened at $237.16 on Friday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm has a market capitalization of $38.50 billion, a PE ratio of 58.56, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. The business has a 50 day simple moving average of $224.30 and a 200-day simple moving average of $214.01.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The shares were 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 of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is currently owned by corporate insiders.

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.