Trust Co of Kansas Has $4.01 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Trust Co of Kansas lowered its holdings in Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 13.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,338 shares of the technology company’s stock after selling 3,833 shares during the quarter. Veeva Systems accounts for about 2.7% of Trust Co of Kansas’ investment portfolio, making the stock its 18th largest position. Trust Co of Kansas’ holdings in Veeva Systems were worth $4,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. MetLife Investment Management LLC acquired a new stake in Veeva Systems in the 1st quarter worth $1,906,000. Dimensional Fund Advisors LP grew its position in Veeva Systems by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 190,289 shares of the technology company’s stock worth $40,430,000 after buying an additional 3,286 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Veeva Systems by 11.5% during the first quarter. Sequoia Financial Advisors LLC now owns 1,018 shares of the technology company’s stock valued at $216,000 after acquiring an additional 105 shares during the period. National Pension Service raised its holdings in Veeva Systems by 3.0% in the 1st quarter. National Pension Service now owns 195,170 shares of the technology company’s stock valued at $41,466,000 after acquiring an additional 5,607 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Veeva Systems by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company’s stock valued at $2,738,229,000 after acquiring an additional 132,560 shares in the last quarter. Institutional investors and hedge funds own 78.76% of the company’s stock.

Insider Buying and Selling

In related news, Director Matthew J. Wallach sold 10,000 shares of the firm’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 transaction, the director now owns 2,846 shares in the company, valued at $454,790.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Veeva Systems news, Director Matthew J. Wallach sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $159.80, for a total value of $1,598,000.00. Following the transaction, the director now directly owns 2,846 shares of the company’s stock, valued at $454,790.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Michele O’connor sold 7,400 shares of the company’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $163.11, for a total transaction of $1,207,014.00. Following the sale, the chief accounting officer now owns 8,676 shares of the company’s stock, valued at approximately $1,415,142.36. The disclosure for this sale can be found here. Insiders sold 139,528 shares of company stock worth $23,119,839 in the last quarter. Insiders own 13.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VEEV shares. Robert W. Baird lowered their price objective on Veeva Systems from $233.00 to $223.00 and set an “outperform” rating on the stock in a research report on Monday, February 27th. Truist Financial dropped their price objective on shares of Veeva Systems from $225.00 to $205.00 and set a “buy” rating for the company in a research note on Thursday, March 2nd. Morgan Stanley reduced their price objective 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. Oppenheimer lowered their target price on shares of Veeva Systems from $250.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, January 12th. Finally, Piper Sandler raised their price target on shares of Veeva Systems from $204.00 to $212.00 in a research note on Thursday, March 2nd. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.83.

Veeva Systems Trading Down 1.3 %

Shares of NYSE VEEV opened at $170.84 on Thursday. Veeva Systems Inc. has a 1-year low of $151.02 and a 1-year high of $232.26. The company has a 50-day moving average of $169.36 and a two-hundred day moving average of $170.64. The company has a market cap of $26.60 billion, a PE ratio of 56.76, a P/E/G ratio of 3.78 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.