HF Advisory Group LLC Reduces Stake in Veeva Systems Inc. (NYSE:VEEV)

HF Advisory Group LLC cut its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 41.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,933 shares of the technology company’s stock after selling 1,383 shares during the period. HF Advisory Group LLC’s holdings in Veeva Systems were worth $406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC boosted its position in Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after acquiring an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Veeva Systems by 1.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after purchasing an additional 50 shares in the last quarter. Clearbridge Investments LLC grew its stake in Veeva Systems by 0.4% in the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after purchasing an additional 52 shares during the period. CHICAGO TRUST Co NA raised its holdings in Veeva Systems by 2.9% in the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after purchasing an additional 53 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its position in Veeva Systems by 1.9% during the fourth quarter. Arkadios Wealth Advisors now owns 3,112 shares of the technology company’s stock valued at $654,000 after buying an additional 58 shares during the period. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Stephens began coverage on shares of Veeva Systems in a report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research note on Friday. Wells Fargo & Company lifted their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Morgan Stanley increased their target price on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.74.

Veeva Systems Trading Up 0.9 %

VEEV opened at $216.67 on Friday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The firm’s 50 day simple moving average is $222.31 and its two-hundred day simple moving average is $209.47. The company has a market capitalization of $35.18 billion, a PE ratio of 53.50, a PEG ratio of 1.91 and a beta of 0.84.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

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.