Trivium Point Advisory LLC Decreases Holdings in Veeva Systems Inc. $VEEV

Trivium Point Advisory LLC trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,187 shares of the technology company’s stock after selling 37 shares during the period. Trivium Point Advisory LLC’s holdings in Veeva Systems were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. TFB Advisors LLC increased its stake in shares of Veeva Systems by 1.2% in the first quarter. TFB Advisors LLC now owns 3,586 shares of the technology company’s stock valued at $831,000 after purchasing an additional 44 shares during the period. Triangle Securities Wealth Management increased its stake in shares of Veeva Systems by 0.8% in the second quarter. Triangle Securities Wealth Management now owns 5,782 shares of the technology company’s stock valued at $1,665,000 after purchasing an additional 45 shares during the period. Marks Group Wealth Management Inc increased its stake in shares of Veeva Systems by 3.3% in the first quarter. Marks Group Wealth Management Inc now owns 1,427 shares of the technology company’s stock valued at $331,000 after purchasing an additional 46 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Veeva Systems by 7.6% in the first quarter. Harbour Investments Inc. now owns 789 shares of the technology company’s stock valued at $183,000 after acquiring an additional 56 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Veeva Systems by 4.7% during the second quarter. Parallel Advisors LLC now owns 1,236 shares of the technology company’s stock valued at $356,000 after acquiring an additional 56 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Piper Sandler raised their price objective on shares of Veeva Systems from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Wells Fargo & Company raised their price objective on shares of Veeva Systems from $300.00 to $326.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. KeyCorp raised their target price on shares of Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Finally, Morgan Stanley raised their target price on shares of Veeva Systems from $210.00 to $222.00 and gave the stock an “underweight” rating in a report on Thursday, August 28th. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $303.67.

Veeva Systems Stock Down 1.5%

VEEV stock opened at $293.44 on Thursday. Veeva Systems Inc. has a 12-month low of $200.30 and a 12-month high of $299.95. The company has a market cap of $48.10 billion, a price-to-earnings ratio of 60.26, a PEG ratio of 2.30 and a beta of 0.98. The company has a 50 day moving average of $281.39 and a two-hundred day moving average of $261.90.

Insider Buying and Selling

In other news, Director Priscilla Hung sold 171 shares of the firm’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $284.40, for a total transaction of $48,632.40. Following the transaction, the director owned 3,966 shares in the company, valued at approximately $1,127,930.40. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 720 shares of the firm’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the transaction, the senior vice president owned 7,902 shares in the company, valued at $2,256,969.24. This represents a 8.35% decrease in their position. The disclosure for this sale can be found here. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Company 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.