Vestmark Advisory Solutions Inc. Sells 375 Shares of Veeva Systems Inc. (NYSE:VEEV)

Posted by on Apr 1st, 2023

Vestmark Advisory Solutions Inc. cut its stake in Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,109 shares of the technology company’s stock after selling 375 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Veeva Systems were worth $1,793,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CI Investments Inc. grew its stake in Veeva Systems by 964.7% during the third quarter. CI Investments Inc. now owns 181 shares of the technology company’s stock worth $30,000 after buying an additional 164 shares in the last quarter. Mizuho Securities Co. Ltd. grew its stake in Veeva Systems by 42.9% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the technology company’s stock worth $51,000 after buying an additional 60 shares in the last quarter. My Personal CFO LLC acquired a new stake in Veeva Systems during the fourth quarter worth about $33,000. City Holding Co. acquired a new stake in Veeva Systems during the third quarter worth about $34,000. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Veeva Systems by 63.9% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 218 shares of the technology company’s stock valued at $46,000 after purchasing an additional 85 shares in the last quarter. 78.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Matthew J. Wallach sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $159.80, for a total value of $1,598,000.00. Following the completion of the transaction, the director now directly owns 2,846 shares of the company’s stock, valued at approximately $454,790.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Paul Edward Chamberlain sold 160 shares of the stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $169.42, for a total value of $27,107.20. Following the transaction, the director now directly owns 16,776 shares of the company’s stock, valued at $2,842,189.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew J. Wallach sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $159.80, for a total value of $1,598,000.00. Following the completion of the sale, the director now owns 2,846 shares in the company, valued at approximately $454,790.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,224 shares of company stock worth $16,003,460. 13.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VEEV. TD Cowen raised their price objective on shares of Veeva Systems from $184.00 to $189.00 and gave the company a “market perform” rating in a report on Monday, March 6th. Cowen started coverage on shares of Veeva Systems in a report on Tuesday, December 6th. They set a “market perform” rating for the company. UBS Group lowered their price target on shares of Veeva Systems from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Tuesday, December 20th. Morgan Stanley lowered their price target on shares of Veeva Systems from $190.00 to $181.00 and set an “equal weight” rating for the company in a report on Friday, January 6th. Finally, Barclays lowered their price target on shares of Veeva Systems from $205.00 to $197.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $204.39.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $183.79 on Friday. The stock has a 50 day moving average price of $172.83 and a 200-day moving average price of $170.34. Veeva Systems Inc. has a one year low of $151.02 and a one year high of $232.26. The stock has a market cap of $28.61 billion, a price-to-earnings ratio of 61.06, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90.

Veeva Systems Profile

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Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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