J. Safra Sarasin Holding AG Decreases Holdings in Veeva Systems Inc. (NYSE:VEEV)

by · The Markets Daily

J. Safra Sarasin Holding AG lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 14.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,875 shares of the technology company’s stock after selling 798 shares during the period. J. Safra Sarasin Holding AG’s holdings in Veeva Systems were worth $1,025,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB raised its holdings in 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 purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Veeva Systems during the 4th quarter worth $25,000. Smithfield Trust Co lifted its position in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after acquiring an additional 80 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Veeva Systems in the fourth quarter valued at $31,000. Finally, Avion Wealth grew its holdings 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 purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial upped their target price on Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research report on Thursday, March 6th. Robert W. Baird increased their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Morgan Stanley increased their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Finally, StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $256.32.

Read Our Latest Stock Report on Veeva Systems

Insider Activity

In related news, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $1,192,565. The trade was a 41.38 % 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. Also, insider Thomas D. Schwenger sold 1,200 shares of the company’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now directly owns 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,869 shares of company stock worth $1,284,917. Company insiders own 10.50% of the company’s stock.

Veeva Systems Trading Up 2.7 %

VEEV stock opened at $215.85 on Wednesday. The company’s 50-day moving average price is $226.48 and its 200 day moving average price is $223.57. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a market cap of $35.12 billion, a P/E ratio of 53.30, a P/E/G ratio of 1.89 and a beta of 1.05.

Veeva Systems Company Profile

(Free Report)

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.

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