Focus Partners Wealth Buys 886 Shares of Veeva Systems Inc. (NYSE:VEEV)

Focus Partners Wealth raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,961 shares of the technology company’s stock after acquiring an additional 886 shares during the period. Focus Partners Wealth owned about 0.06% of Veeva Systems worth $20,386,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Ellevest Inc. lifted its stake in Veeva Systems by 3.5% during the 4th quarter. Ellevest Inc. now owns 2,453 shares of the technology company’s stock valued at $516,000 after acquiring an additional 82 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Veeva Systems by 63.3% during the 4th quarter. Ensign Peak Advisors Inc now owns 103,335 shares of the technology company’s stock worth $21,726,000 after purchasing an additional 40,073 shares during the period. Ethic Inc. raised its stake in shares of Veeva Systems by 11.5% during the 4th quarter. Ethic Inc. now owns 13,829 shares of the technology company’s stock worth $2,908,000 after purchasing an additional 1,426 shares during the period. Fiduciary Trust Co raised its stake in shares of Veeva Systems by 8.5% during the 4th quarter. Fiduciary Trust Co now owns 8,995 shares of the technology company’s stock worth $1,891,000 after purchasing an additional 706 shares during the period. Finally, Colonial Trust Co SC raised its stake in shares of Veeva Systems by 30.3% during the 4th quarter. Colonial Trust Co SC now owns 241 shares of the technology company’s stock worth $51,000 after purchasing an additional 56 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VEEV shares. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and lowered their target price for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Stephens reiterated an “overweight” rating and set a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Truist Financial lifted their target price on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research note on Thursday, March 6th. Scotiabank lifted their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.92.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 787 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. The trade was a 8.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the sale, the insider now owns 25,889 shares of the company’s stock, valued at $5,720,692.33. The trade was a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock valued at $1,284,917 in the last quarter. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Down 1.2%

VEEV stock opened at $236.60 on Monday. The firm has a market capitalization of $38.49 billion, a PE ratio of 58.42, a PEG ratio of 1.89 and a beta of 0.96. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The stock has a 50-day simple moving average of $227.98 and a two-hundred day simple moving average of $225.39.

Veeva Systems Profile

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.