Worldquant Millennium Advisors LLC Lowers Position in Veeva Systems Inc. (NYSE:VEEV)

Worldquant Millennium Advisors LLC trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,511 shares of the technology company’s stock after selling 15,249 shares during the quarter. Worldquant Millennium Advisors LLC owned 0.12% of Veeva Systems worth $41,106,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB increased its stake in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems during the fourth quarter worth about $25,000. Smithfield Trust Co increased its stake in shares of Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after acquiring an additional 80 shares during the period. Avion Wealth increased its stake in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after acquiring an additional 127 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after acquiring an additional 163 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $240.80 on Wednesday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a market capitalization of $39.18 billion, a PE ratio of 59.46, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The firm’s 50-day moving average is $229.01 and its two-hundred day moving average is $226.69.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Scotiabank upped their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. Stephens restated an “overweight” rating and set a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and lowered their target price for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Finally, Robert W. Baird upped their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.92.

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the transaction, the insider now owns 25,889 shares of the company’s stock, valued at approximately $5,720,692.33. This represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. The trade was a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock valued at $1,284,917 over the last quarter. Corporate insiders own 10.30% 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.