New Wave Wealth Advisors LLC Purchases Shares of 854 Veeva Systems Inc. (NYSE:VEEV)

New Wave Wealth Advisors LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 854 shares of the technology company’s stock, valued at approximately $180,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 during the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems during the third quarter worth about $26,000. True Wealth Design LLC grew its holdings in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing 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 about $31,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Veeva Systems during the third quarter worth about $49,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’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 sale, 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 disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VEEV. Stephens began coverage on Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 price objective on the stock. StockNews.com lowered Veeva Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Evercore ISI raised their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Robert W. Baird lifted their price objective on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Mizuho initiated coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Veeva Systems Stock Performance

Shares of VEEV opened at $237.31 on Friday. The stock has a fifty day moving average of $223.22 and a two-hundred day moving average of $212.20. The company has a market capitalization of $38.53 billion, a PE ratio of 58.60, a price-to-earnings-growth ratio of 2.04 and a beta of 0.84. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

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.