Veeva Systems Inc. (NYSE:VEEV) Holdings Increased by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC lifted its stake in Veeva Systems Inc. (NYSE:VEEV) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,525 shares of the technology company’s stock after acquiring an additional 81 shares during the period. Premier Path Wealth Partners LLC’s holdings in Veeva Systems were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in VEEV. Alhambra Investment Management LLC bought a new position in Veeva Systems during the 4th quarter valued at $259,000. Arkadios Wealth Advisors boosted its stake in Veeva Systems by 1.9% during the fourth quarter. Arkadios Wealth Advisors now owns 3,112 shares of the technology company’s stock valued at $654,000 after buying an additional 58 shares in the last quarter. Trust Co of Kansas boosted its stake in Veeva Systems by 2.7% during the fourth quarter. Trust Co of Kansas now owns 26,404 shares of the technology company’s stock valued at $5,551,000 after buying an additional 683 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Veeva Systems during the fourth quarter worth about $31,000. Finally, Merit Financial Group LLC raised its position in Veeva Systems by 4.7% in the fourth quarter. Merit Financial Group LLC now owns 37,810 shares of the technology company’s stock worth $7,950,000 after acquiring an additional 1,687 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV opened at $216.67 on Friday. The company has a market capitalization of $35.18 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The business has a 50-day moving average of $222.31 and a 200-day moving average of $209.47.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value 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 position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Barclays lifted their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Truist Financial reduced their price objective on Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Finally, Mizuho started coverage on Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price 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.