Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Selective Wealth Management Inc.

Selective Wealth Management Inc. lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,974 shares of the technology company’s stock after selling 1,503 shares during the quarter. Veeva Systems accounts for 1.8% of Selective Wealth Management Inc.’s investment portfolio, making the stock its 12th largest holding. Selective Wealth Management Inc.’s holdings in Veeva Systems were worth $4,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Veeva Systems in the third quarter valued at approximately $26,000. True Wealth Design LLC boosted its position 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 worth $29,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Veeva Systems during the 4th quarter worth $31,000. Fairscale Capital LLC purchased a new position in shares of Veeva Systems in the 2nd quarter valued at about $46,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Veeva Systems in the third quarter valued at about $49,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VEEV shares. Citigroup upped their target price on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Bank of America raised their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Stephens began coverage on Veeva Systems in a research report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price on the stock. Canaccord Genuity Group raised their price target on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.74.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $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 is available at this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Veeva Systems Trading Up 0.9 %

VEEV stock opened at $216.67 on Friday. The company has a market cap of $35.18 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. The stock has a 50-day moving average price of $222.68 and a two-hundred day moving average price of $209.23. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93.

About Veeva Systems

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.