Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by William Allan Corp

William Allan Corp increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,860 shares of the technology company’s stock after buying an additional 474 shares during the period. Veeva Systems makes up approximately 1.7% of William Allan Corp’s holdings, making the stock its 25th biggest position. William Allan Corp’s holdings in Veeva Systems were worth $2,704,000 as of its most recent filing with the Securities & Exchange Commission.

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

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $239.09 on Friday. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The stock has a market capitalization of $38.82 billion, a PE ratio of 59.04, a P/E/G ratio of 2.05 and a beta of 0.85. The business has a fifty day moving average price of $224.05 and a two-hundred day moving average price of $213.83.

Insider Buying and Selling

In other 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 value of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

VEEV has been the subject of a number of recent research reports. Scotiabank raised their price target on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. StockNews.com cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company increased their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Piper Sandler lifted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Evercore ISI raised their target price on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $253.96.

About Veeva Systems

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.