Moseley Investment Management Inc. Reduces Position in Veeva Systems Inc. (NYSE:VEEV)

Moseley Investment Management Inc. decreased its holdings in Veeva Systems Inc. (NYSE:VEEV) by 36.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,222 shares of the technology company’s stock after selling 715 shares during the quarter. Moseley Investment Management Inc.’s holdings in Veeva Systems were worth $257,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems in the 3rd quarter worth about $26,000. True Wealth Design LLC increased its holdings 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 valued at $29,000 after buying an additional 135 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Veeva Systems during the third quarter valued at approximately $49,000. Fairscale Capital LLC bought a new position in Veeva Systems during the 2nd quarter worth approximately $46,000. Finally, Quent Capital LLC lifted its holdings in Veeva Systems by 794.1% during the 3rd quarter. Quent Capital LLC now owns 304 shares of the technology company’s stock worth $64,000 after buying an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

VEEV opened at $210.81 on Wednesday. The company has a market capitalization of $34.23 billion, a PE ratio of 52.05, a P/E/G ratio of 2.03 and a beta of 0.84. The stock’s fifty day moving average is $222.94 and its 200-day moving average is $209.17. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s 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 sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following 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 disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VEEV shares. Bank of America boosted their price target on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Mizuho initiated coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price for the company. Truist Financial reduced their price target on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, Needham & Company LLC increased their price objective on shares of Veeva Systems from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $255.74.

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.