Linscomb Wealth Inc. Acquires 644 Shares of Veeva Systems Inc. (NYSE:VEEV)

Linscomb Wealth Inc. increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 6.0% in the 4th quarter, HoldingsChannel reports. The fund owned 11,377 shares of the technology company’s stock after acquiring an additional 644 shares during the period. Linscomb Wealth Inc.’s holdings in Veeva Systems were worth $2,392,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Veeva Systems by 72.5% in the 4th 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 during the last quarter. Centricity Wealth Management LLC purchased a new stake in Veeva Systems during the 4th quarter valued at $25,000. True Wealth Design LLC lifted its position in Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in Veeva Systems during the fourth quarter worth $31,000. Finally, Avion Wealth increased its position in Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the 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 sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Stock Up 1.5 %

Veeva Systems stock opened at $224.33 on Friday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The business has a fifty day moving average of $223.85 and a two-hundred day moving average of $218.75. The firm has a market cap of $36.42 billion, a P/E ratio of 55.39, a P/E/G ratio of 1.89 and a beta of 0.85.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Evercore ISI increased their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Truist Financial cut 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. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.08.

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.