Geneos Wealth Management Inc. Sells 85 Shares of Veeva Systems Inc. (NYSE:VEEV)

Geneos Wealth Management Inc. lessened its position in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,040 shares of the technology company’s stock after selling 85 shares during the period. Geneos Wealth Management Inc.’s holdings in Veeva Systems were worth $429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB increased 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 purchasing an additional 50 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems during the third quarter worth about $26,000. True Wealth Design LLC increased its stake in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after acquiring an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in Veeva Systems in the 4th quarter worth about $31,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Veeva Systems in the 3rd quarter valued at about $49,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % 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.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a report on Friday, January 17th. Guggenheim raised their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Stephens initiated coverage on shares of Veeva Systems in a research report on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price for the company. Finally, KeyCorp lowered their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.96.

Get Our Latest Stock Analysis on Veeva Systems

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $232.18 on Wednesday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock’s 50-day moving average is $221.87 and its 200 day moving average is $211.57. The company has a market cap of $37.69 billion, a PE ratio of 57.33, a P/E/G ratio of 2.01 and a beta of 0.84.

About Veeva Systems

(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.

See Also

Want to see what other hedge funds are holding VEEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veeva Systems Inc. (NYSE:VEEVFree Report).

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

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