Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Avion Wealth

Avion Wealth boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 635.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147 shares of the technology company’s stock after purchasing an additional 127 shares during the period. Avion Wealth’s holdings in Veeva Systems were worth $30,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after purchasing an additional 1,392,256 shares in the last quarter. State Street Corp increased its stake in shares of Veeva Systems by 1.5% during the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after purchasing an additional 47,872 shares in the last quarter. FMR LLC raised its position in shares of Veeva Systems by 25.7% during the 3rd 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 last quarter. Geode Capital Management LLC lifted its stake in Veeva Systems by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock valued at $579,630,000 after buying an additional 149,807 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after buying an additional 1,081,501 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VEEV. Scotiabank boosted their price target on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. Stephens began coverage on shares of Veeva Systems in a research note on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price for the company. Bank of America upped their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Piper Sandler lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Truist Financial reduced their price objective on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $253.96.

Insider Buying and Selling

In related 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 directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Stock Down 0.5 %

VEEV opened at $233.26 on Thursday. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The company has a 50 day moving average of $224.84 and a two-hundred day moving average of $215.41. The company has a market cap of $37.87 billion, a P/E ratio of 57.60, a P/E/G ratio of 1.97 and a beta of 0.85.

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.