World Investment Advisors Has $2.34 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

World Investment Advisors increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 9.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,122 shares of the technology company’s stock after purchasing an additional 967 shares during the quarter. World Investment Advisors’ holdings in Veeva Systems were worth $2,338,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB increased its stake in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Centricity Wealth Management LLC bought a new position in Veeva Systems in the 4th quarter worth approximately $25,000. Smithfield Trust Co increased its position 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. Avion Wealth lifted its holdings in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $31,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV stock opened at $213.59 on Friday. The stock’s fifty day moving average is $231.73 and its 200-day moving average is $223.01. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market capitalization of $34.75 billion, a PE ratio of 52.74, a PEG ratio of 1.89 and a beta of 0.88.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Robert W. Baird upped their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Barclays upped their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Scotiabank lifted their target price on Veeva Systems from $240.00 to $245.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 6th. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and cut their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Finally, Stephens reissued an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $256.52.

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.