Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 73.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,921 shares of the technology company’s stock after selling 8,030 shares during the quarter. Quantbot Technologies LP’s holdings in Veeva Systems were worth $613,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in VEEV. D.A. Davidson & CO. increased its stake in Veeva Systems by 2.5% in the third quarter. D.A. Davidson & CO. now owns 5,630 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 136 shares during the last quarter. FMR LLC grew its position in shares of 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 buying an additional 610,021 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in Veeva Systems during the 3rd quarter worth $326,000. Linonia Partnership LP lifted its position in Veeva Systems by 16.7% in the third quarter. Linonia Partnership LP now owns 846,672 shares of the technology company’s stock valued at $177,691,000 after acquiring an additional 121,018 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Veeva Systems by 24.2% during the third quarter. Brown Brothers Harriman & Co. now owns 621 shares of the technology company’s stock worth $130,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on VEEV shares. BNP Paribas assumed coverage on Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price for the company. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. TD Cowen raised their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Finally, Raymond James upped their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. One equities 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.92.

Veeva Systems Stock Down 0.2 %

NYSE:VEEV opened at $227.46 on Tuesday. Veeva Systems Inc. has a fifty-two week low of $165.12 and a fifty-two week high of $240.68. The firm’s fifty day simple moving average is $216.04 and its 200-day simple moving average is $202.05. The stock has a market cap of $36.83 billion, a PE ratio of 60.66, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems 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 completion of the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 10.50% of the stock is currently owned by company insiders.

Veeva Systems 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.