Veeva Systems Inc. (NYSE:VEEV) Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC reduced its position in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) by 19.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,731 shares of the technology company’s stock after selling 411 shares during the period. HB Wealth Management LLC’s holdings in Veeva Systems were worth $364,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of VEEV. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Veeva Systems during the third quarter worth approximately $26,000. True Wealth Design LLC raised its position in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Veeva Systems during the fourth quarter worth about $31,000. Harvest Fund Management Co. Ltd acquired a new stake in Veeva Systems in the 3rd quarter valued at about $49,000. Finally, Quent Capital LLC lifted its stake in Veeva Systems by 794.1% in the 3rd quarter. Quent Capital LLC now owns 304 shares of the technology company’s stock worth $64,000 after purchasing an additional 270 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several recent analyst reports. Evercore ISI raised their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Guggenheim raised their price target on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Piper Sandler boosted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, Stephens began coverage on shares of Veeva Systems in a research note on Friday, December 20th. They issued an “overweight” rating and a $280.00 price target for the company. Two research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $253.96.

Read Our Latest Stock Report on Veeva Systems

Veeva Systems Stock Down 2.5 %

NYSE VEEV opened at $223.23 on Friday. The stock has a market capitalization of $36.24 billion, a PE ratio of 55.12, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a 50 day moving average price of $221.55 and a two-hundred day moving average price of $210.52.

Veeva Systems Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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