Veeva Systems Inc. (NYSE:VEEV) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 28.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413 shares of the technology company’s stock after selling 163 shares during the quarter. First Horizon Advisors Inc.’s holdings in Veeva Systems were worth $87,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after acquiring an additional 1,392,256 shares in the last quarter. State Street Corp grew its position in Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after acquiring an additional 47,872 shares in the last quarter. FMR LLC grew its position in Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after acquiring an additional 610,021 shares in the last quarter. Principal Financial Group Inc. grew its position in Veeva Systems by 36.0% in the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company’s stock valued at $623,186,000 after acquiring an additional 784,741 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Veeva Systems by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after buying an additional 149,807 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VEEV shares. Robert W. Baird lifted their price objective on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Scotiabank lifted their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Evercore ISI lifted their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Piper Sandler lifted their price objective on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, KeyCorp decreased their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.08.

Veeva Systems Trading Up 2.8 %

Shares of NYSE VEEV opened at $227.64 on Thursday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The stock has a 50 day moving average of $223.82 and a two-hundred day moving average of $218.46. The stock has a market cap of $36.96 billion, a P/E ratio of 56.21, a P/E/G ratio of 1.89 and a beta of 0.85.

Insider Activity

In other news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.50% 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.