Atomi Financial Group Inc. Has $762,000 Stake in Veeva Systems Inc. (NYSE:VEEV)

Atomi Financial Group Inc. lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,623 shares of the technology company’s stock after selling 93 shares during the period. Atomi Financial Group Inc.’s holdings in Veeva Systems were worth $762,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB grew its position 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 buying an additional 50 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems during the 3rd quarter valued at $26,000. True Wealth Design LLC grew 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 worth $29,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems in the fourth quarter worth $31,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems in the third quarter worth $49,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction 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. The trade was a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Stock Up 2.7 %

VEEV stock opened at $229.05 on Thursday. The company’s fifty day simple moving average is $221.64 and its 200 day simple moving average is $210.39. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a market cap of $37.19 billion, a price-to-earnings ratio of 56.56, a PEG ratio of 1.90 and a beta of 0.84.

Analyst Ratings Changes

A number of brokerages have issued reports on VEEV. KeyCorp reduced their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Stephens assumed coverage on shares of Veeva Systems in a research note on Friday, December 20th. They issued an “overweight” rating and a $280.00 price objective on the stock. Barclays upped their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Bank of America lifted their price target on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Morgan Stanley upped their price objective on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.74.

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.