Coldstream Capital Management Inc. Trims Stake in Veeva Systems Inc. (NYSE:VEEV)

Coldstream Capital Management Inc. trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 8.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,433 shares of the technology company’s stock after selling 433 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Veeva Systems were worth $932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VEEV. Principal Financial Group Inc. boosted 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 worth $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. Barclays PLC boosted its holdings in shares of Veeva Systems by 18.2% in the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company’s stock worth $38,870,000 after purchasing an additional 28,497 shares in the last quarter. Tudor Financial Inc. purchased a new position in shares of Veeva Systems in the 3rd quarter worth about $265,000. World Investment Advisors LLC purchased a new position in shares of Veeva Systems in the 3rd quarter worth about $2,131,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Veeva Systems in the 3rd quarter worth about $168,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 0.8 %

Shares of VEEV stock opened at $225.62 on Tuesday. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a market cap of $36.71 billion, a PE ratio of 55.71, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The company’s fifty day moving average price is $225.90 and its 200-day moving average price is $224.20.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on VEEV. Truist Financial upped their price objective on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a report on Thursday, March 6th. Robert W. Baird upped their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Scotiabank boosted their target price on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Piper Sandler lowered their target price on Veeva Systems from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.92.

Insider Activity

In other 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 transaction, the senior vice president now owns 8,668 shares of the company’s stock, valued at $1,960,701.60. The trade was a 8.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the transaction, the insider now directly owns 25,889 shares of the company’s stock, valued at approximately $5,720,692.33. This represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,869 shares of company stock worth $1,284,917. Corporate 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.