Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Centiva Capital LP

Centiva Capital LP trimmed its stake in Veeva Systems Inc. (NYSE:VEEV) by 26.9% in the third quarter, HoldingsChannel.com reports. The fund owned 9,964 shares of the technology company’s stock after selling 3,672 shares during the quarter. Centiva Capital LP’s holdings in Veeva Systems were worth $2,091,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. General American Investors Co. Inc. acquired a new position in shares of Veeva Systems in the third quarter worth $5,133,000. Procyon Advisors LLC acquired a new position in shares of Veeva Systems in the third quarter worth $712,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after acquiring an additional 9,232 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Veeva Systems by 3.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after acquiring an additional 2,733 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on VEEV. Barclays upped their target price on Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Scotiabank began coverage on Veeva Systems in a research note on Monday, November 18th. They issued a “sector perform” rating and a $235.00 target price for the company. Guggenheim upped their target price on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Bank of America upped their target price on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada upped their target price on Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $236.92.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $227.46 on Tuesday. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68. The business has a 50-day moving average of $216.04 and a 200-day moving average of $202.05. The company has a market capitalization of $36.83 billion, a price-to-earnings ratio of 60.66, a PEG ratio of 2.21 and a beta of 0.82.

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.