Boomfish Wealth Group LLC Lowers Holdings in Veeva Systems Inc. (NYSE:VEEV)

Boomfish Wealth Group LLC reduced its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,252 shares of the technology company’s stock after selling 189 shares during the period. Veeva Systems comprises 1.4% of Boomfish Wealth Group LLC’s investment portfolio, making the stock its 28th largest holding. Boomfish Wealth Group LLC’s holdings in Veeva Systems were worth $2,366,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its stake in Veeva Systems by 72.5% during 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 last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems during the third quarter worth approximately $26,000. True Wealth Design LLC raised its holdings in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems during the 4th quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Veeva Systems in the 3rd quarter valued at $49,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The stock was 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. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were 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 in the company, valued at approximately $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. Corporate insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

VEEV has been the subject of several recent analyst reports. Stephens assumed coverage on shares of Veeva Systems in a research note on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price for the company. Truist Financial lowered their price objective on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Robert W. Baird lifted their price target on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Bank of America upped their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, StockNews.com downgraded Veeva Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $253.96.

Veeva Systems Price Performance

NYSE VEEV opened at $237.31 on Friday. The company’s fifty day moving average is $222.75 and its two-hundred day moving average is $212.03. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market capitalization of $38.53 billion, a price-to-earnings ratio of 58.60, a P/E/G ratio of 2.04 and a beta of 0.84.

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.