Wedbush Securities Inc. Has $429,000 Stake in Veeva Systems Inc. (NYSE:VEEV)

Wedbush Securities Inc. lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 39.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,344 shares of the technology company’s stock after selling 1,513 shares during the quarter. Wedbush Securities Inc.’s holdings in Veeva Systems were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems in the first quarter valued at approximately $28,000. DSM Capital Partners LLC acquired a new position in Veeva Systems in the 4th quarter valued at $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in Veeva Systems in the 4th quarter valued at $32,000. Blue Trust Inc. lifted its position in Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after acquiring an additional 173 shares during the last quarter. Finally, First Financial Corp IN acquired a new position in Veeva Systems during the 1st quarter worth $35,000. 88.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VEEV shares. Truist Financial lifted their price objective on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research report on Thursday, August 29th. Morgan Stanley reduced their price objective on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a research note on Thursday, August 29th. Finally, TD Cowen increased their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $229.96.

Veeva Systems Price Performance

Shares of VEEV stock opened at $217.96 on Friday. The stock’s fifty day simple moving average is $196.14 and its 200 day simple moving average is $202.03. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90. The firm has a market cap of $35.23 billion, a price-to-earnings ratio of 64.29, a P/E/G ratio of 2.18 and a beta of 0.81.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 10.50% of the company’s stock.

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.