Baader Bank Aktiengesellschaft Trims Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Baader Bank Aktiengesellschaft lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,850 shares of the technology company’s stock after selling 176 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Veeva Systems were worth $599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB increased its position in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Veeva Systems in the third quarter worth approximately $26,000. True Wealth Design LLC grew its position in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Veeva Systems during the fourth quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Veeva Systems in the 3rd quarter worth approximately $49,000. 88.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at $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 available through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The stock was 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 owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on VEEV shares. BNP Paribas started coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price on the stock. Wells Fargo & Company boosted their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. StockNews.com lowered Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research report on Friday, January 17th. Finally, The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and cut their target price for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $253.96.

Veeva Systems Stock Performance

VEEV stock opened at $237.31 on Friday. The firm has a 50 day moving average price of $222.75 and a 200-day moving average price of $212.03. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market capitalization of $38.53 billion, a price-to-earnings ratio of 58.60, a PEG ratio of 2.04 and a beta of 0.84.

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.