Veeva Systems Inc. (NYSE:VEEV) Holdings Lifted by Inspire Investing LLC

Inspire Investing LLC increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEVFree Report) by 18.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,435 shares of the technology company’s stock after buying an additional 2,985 shares during the quarter. Inspire Investing LLC’s holdings in Veeva Systems were worth $4,086,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. 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 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 in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Veeva Systems in the fourth quarter valued at about $31,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Veeva Systems in the third quarter valued at about $49,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

VEEV has been the topic of a number of recent research reports. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and lowered their target price for the company from $261.00 to $200.00 in a research note on Thursday. Truist Financial lowered their target price on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. Scotiabank boosted their target price on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Stifel Nicolaus boosted their target price on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Canaccord Genuity Group boosted their target price on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $253.96.

Check Out Our Latest Report on VEEV

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction 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. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Price Performance

VEEV stock opened at $229.05 on Thursday. The stock has a market capitalization of $37.19 billion, a PE ratio of 56.56, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84. The company’s 50-day moving average is $221.55 and its 200-day moving average is $210.52. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

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.

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

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