Exchange Traded Concepts LLC Increases Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Exchange Traded Concepts LLC lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,273 shares of the technology company’s stock after purchasing an additional 357 shares during the period. Exchange Traded Concepts LLC’s holdings in Veeva Systems were worth $2,791,000 as of its most recent filing with the Securities and Exchange Commission.

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

Veeva Systems Stock Up 0.2 %

Shares of NYSE VEEV opened at $223.37 on Friday. The stock has a market capitalization of $36.26 billion, a PE ratio of 55.15, a P/E/G ratio of 2.01 and a beta of 0.84. The firm has a fifty day moving average of $221.63 and a 200-day moving average of $210.89. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were 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 in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Truist Financial decreased their target price on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and dropped their price target for the company from $261.00 to $200.00 in a research report on Thursday. Robert W. Baird boosted their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Stephens initiated coverage on shares of Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $253.96.

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.