Lion Street Advisors LLC Boosts Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Lion Street Advisors LLC grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 10.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,489 shares of the technology company’s stock after buying an additional 232 shares during the period. Lion Street Advisors LLC’s holdings in Veeva Systems were worth $523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB increased its stake in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems during the third quarter valued at approximately $26,000. True Wealth Design LLC increased its position in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Veeva Systems in the 4th quarter valued at $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Veeva Systems during the 3rd quarter valued at $49,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Up 0.1 %

Shares of NYSE:VEEV opened at $233.47 on Wednesday. The stock has a market capitalization of $37.90 billion, a PE ratio of 57.65, a P/E/G ratio of 2.05 and a beta of 0.85. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm has a fifty day moving average price of $223.68 and a 200 day moving average price of $213.30.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems 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 transaction, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on VEEV. 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 report on Friday, December 6th. Wells Fargo & Company lifted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Mizuho initiated 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 for the company. Morgan Stanley lifted their target price on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler increased their price target on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target 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.