GM Advisory Group LLC Cuts Stock Position in Veeva Systems Inc. (NYSE:VEEV)

GM Advisory Group LLC decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,159 shares of the technology company’s stock after selling 60 shares during the period. GM Advisory Group LLC’s holdings in Veeva Systems were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of VEEV. Harvest Fund Management Co. Ltd lifted its holdings in shares of Veeva Systems by 940.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,415 shares of the technology company’s stock valued at $508,000 after purchasing an additional 2,183 shares during the last quarter. Vinva Investment Management Ltd increased its position in Veeva Systems by 343.8% during the 4th quarter. Vinva Investment Management Ltd now owns 30,032 shares of the technology company’s stock valued at $6,351,000 after buying an additional 23,265 shares in the last quarter. Bestgate Wealth Advisors LLC purchased a new stake in Veeva Systems in the fourth quarter valued at about $238,000. VSM Wealth Advisory LLC acquired a new stake in Veeva Systems in the fourth quarter worth about $42,000. Finally, Xponance Inc. boosted its holdings in Veeva Systems by 8.3% in the fourth quarter. Xponance Inc. now owns 28,754 shares of the technology company’s stock worth $6,046,000 after acquiring an additional 2,209 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VEEV has been the topic of several recent analyst reports. Citigroup upped their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. Stifel Nicolaus upped their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Piper Sandler lifted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wells Fargo & Company upped 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. Finally, Mizuho began coverage on Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems Stock Up 0.3 %

VEEV stock opened at $237.09 on Thursday. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market cap of $38.49 billion, a P/E ratio of 58.54, a PEG ratio of 1.89 and a beta of 0.88. The company’s 50-day simple moving average is $228.49 and its 200-day simple moving average is $221.93.

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.