Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Rovin Capital UT ADV

Rovin Capital UT ADV decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 22.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,548 shares of the technology company’s stock after selling 737 shares during the period. Rovin Capital UT ADV’s holdings in Veeva Systems were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Park Avenue Securities LLC grew its holdings in shares of Veeva Systems by 1.9% during the fourth quarter. Park Avenue Securities LLC now owns 12,228 shares of the technology company’s stock valued at $2,571,000 after purchasing an additional 233 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Veeva Systems by 182.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 60,072 shares of the technology company’s stock valued at $12,630,000 after purchasing an additional 38,793 shares during the period. Rockland Trust Co. grew its stake in Veeva Systems by 5.0% during the 4th quarter. Rockland Trust Co. now owns 112,764 shares of the technology company’s stock worth $23,709,000 after buying an additional 5,322 shares during the last quarter. Oak Thistle LLC grew its stake in Veeva Systems by 789.8% during the 4th quarter. Oak Thistle LLC now owns 12,093 shares of the technology company’s stock worth $2,543,000 after buying an additional 10,734 shares during the last quarter. Finally, Clean Yield Group acquired a new stake in Veeva Systems in the fourth quarter worth $3,487,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $212.03 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’s 50 day simple moving average is $222.94 and its 200-day simple moving average is $209.17. The company has a market cap of $34.42 billion, a P/E ratio of 52.35, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VEEV. Canaccord Genuity Group boosted their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Stephens initiated coverage on shares of Veeva Systems in a research report on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price for the company. Scotiabank raised their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Robert W. Baird boosted their price objective on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Truist Financial lowered their target price on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.74.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. 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.