HBK Sorce Advisory LLC Sells 52 Shares of Veeva Systems Inc. (NYSE:VEEV)

HBK Sorce Advisory LLC decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,801 shares of the technology company’s stock after selling 52 shares during the period. HBK Sorce Advisory LLC’s holdings in Veeva Systems were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB boosted its holdings in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares during the period. Centricity Wealth Management LLC bought a new position in Veeva Systems in the 4th quarter worth $25,000. Smithfield Trust Co boosted its holdings in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after buying an additional 80 shares during the period. True Wealth Design LLC boosted its holdings in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares during the period. Finally, Avion Wealth boosted its holdings in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $233.84 on Friday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The firm has a market capitalization of $37.96 billion, a P/E ratio of 57.74, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The company’s 50-day moving average is $227.12 and its 200 day moving average is $221.25.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VEEV. KeyCorp dropped their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Evercore ISI upped 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. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and dropped their price objective for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Mizuho started coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective for the company. Finally, Truist Financial increased their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus target price of $255.28.

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.