GM Advisory Group LLC Cuts Stake in Veeva Systems Inc. (NYSE:VEEV)

GM Advisory Group LLC reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,159 shares of the technology company’s stock after selling 60 shares during the quarter. GM Advisory Group LLC’s holdings in Veeva Systems were worth $244,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB grew its position 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 valued at $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Veeva Systems during the fourth quarter worth $25,000. Smithfield Trust Co grew its holdings in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC increased its stake in shares of 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. Finally, Avion Wealth increased its stake in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after acquiring an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VEEV. KeyCorp lowered their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Truist Financial raised their price target on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a report on Thursday, March 6th. Scotiabank upped their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Finally, Evercore ISI raised their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $255.28.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $237.09 on Thursday. The stock’s 50-day moving average is $228.49 and its two-hundred day moving average is $221.93. The company has a market cap of $38.49 billion, a price-to-earnings ratio of 58.54, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93.

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.