Kestra Private Wealth Services LLC Raises Holdings in Veeva Systems Inc. (NYSE:VEEV)

Kestra Private Wealth Services LLC lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 66.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,109 shares of the technology company’s stock after buying an additional 1,634 shares during the period. Kestra Private Wealth Services LLC’s holdings in Veeva Systems were worth $864,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB raised its stake in shares of Veeva Systems by 72.5% during 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 in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems during the 3rd quarter worth approximately $26,000. True Wealth Design LLC grew its holdings in shares of 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 acquiring an additional 135 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Veeva Systems in the 4th quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Veeva Systems in the 3rd quarter worth approximately $49,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Trading Up 0.3 %

Shares of VEEV opened at $234.04 on Friday. The firm has a market capitalization of $38.00 billion, a P/E ratio of 57.79, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. The stock’s fifty day simple moving average is $224.76 and its 200 day simple moving average is $215.54. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the firm’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 transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on VEEV. Citigroup upped their price target on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Mizuho began coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target on the stock. Stifel Nicolaus upped their price target on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI upped their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Finally, Truist Financial lowered their price target on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Veeva Systems currently has a consensus 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.