Kestra Investment Management LLC Buys 1,186 Shares of Veeva Systems Inc. (NYSE:VEEV)

Kestra Investment Management LLC raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 51.3% in the fourth quarter, Holdings Channel reports. The fund owned 3,498 shares of the technology company’s stock after purchasing an additional 1,186 shares during the quarter. Kestra Investment Management LLC’s holdings in Veeva Systems were worth $735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VEEV. Blue Trust Inc. lifted its holdings in shares of Veeva Systems by 453.9% in the third quarter. Blue Trust Inc. now owns 986 shares of the technology company’s stock worth $207,000 after acquiring an additional 808 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Veeva Systems by 9.1% in the third quarter. Raymond James & Associates now owns 115,954 shares of the technology company’s stock worth $24,335,000 after acquiring an additional 9,713 shares during the last quarter. Koss Olinger Consulting LLC lifted its holdings in shares of Veeva Systems by 24.7% in the third quarter. Koss Olinger Consulting LLC now owns 1,413 shares of the technology company’s stock worth $297,000 after acquiring an additional 280 shares during the last quarter. Trilogy Capital Inc. increased its stake in shares of Veeva Systems by 26.0% in the third quarter. Trilogy Capital Inc. now owns 7,306 shares of the technology company’s stock valued at $1,533,000 after buying an additional 1,507 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Veeva Systems by 3.5% in the third quarter. Sequoia Financial Advisors LLC now owns 16,449 shares of the technology company’s stock valued at $3,452,000 after buying an additional 550 shares during the period. Institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction 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 in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Down 0.4 %

Shares of VEEV stock opened at $233.06 on Wednesday. The company has a market cap of $37.84 billion, a price-to-earnings ratio of 57.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The firm has a 50 day moving average of $224.24 and a 200-day moving average of $216.60.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VEEV shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research note on Friday, January 17th. Piper Sandler upped their price objective on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Barclays upped their price objective on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Bank of America upped their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada upped their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $253.96.

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.