Kingsview Wealth Management LLC Has $1.76 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Kingsview Wealth Management LLC reduced its holdings in Veeva Systems Inc. (NYSE:VEEV) by 21.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,360 shares of the technology company’s stock after selling 2,239 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Veeva Systems were worth $1,758,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its position in Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after buying an additional 1,392,256 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after acquiring an additional 1,081,501 shares during the last quarter. FMR LLC increased its position in Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after purchasing an additional 610,021 shares during the period. Finally, Seilern Investment Management Ltd bought a new stake in Veeva Systems during the 4th quarter worth about $94,957,000. 88.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’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 transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.50% of the stock is currently owned by corporate insiders.

Veeva Systems Stock Up 0.1 %

Shares of VEEV opened at $237.38 on Tuesday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The stock has a market capitalization of $38.54 billion, a P/E ratio of 58.61, a P/E/G ratio of 1.97 and a beta of 0.85. The company has a 50 day moving average of $224.48 and a 200-day moving average of $214.76.

Analyst Upgrades and Downgrades

VEEV has been the subject of several analyst reports. Truist Financial lowered their price target on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a research report on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a report on Friday, January 17th. Wells Fargo & Company increased their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Piper Sandler lifted their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus increased their target price on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $253.96.

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.