Simmons Bank Has $1.09 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Simmons Bank raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 14.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,203 shares of the technology company’s stock after buying an additional 666 shares during the period. Simmons Bank’s holdings in Veeva Systems were worth $1,094,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at $25,000. True Wealth Design LLC raised its holdings in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Avion Wealth raised its holdings in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $227.64 on Thursday. The firm’s 50-day simple moving average is $223.82 and its 200-day simple moving average is $218.46. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market cap of $36.96 billion, a P/E ratio of 56.21, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of recent research reports. Mizuho initiated coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target on the stock. Robert W. Baird raised their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a report on Friday, January 17th. Morgan Stanley lifted their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a report on Tuesday, December 17th. Finally, Evercore ISI lifted their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.08.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is owned by company insiders.

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.