GraniteShares Advisors LLC Has $634,000 Stock Position in Veeva Systems Inc. (NYSE:VEEV)

GraniteShares Advisors LLC reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 18.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,015 shares of the technology company’s stock after selling 663 shares during the quarter. GraniteShares Advisors LLC’s holdings in Veeva Systems were worth $634,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted 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 acquiring an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems in the fourth quarter worth approximately $25,000. True Wealth Design LLC lifted its stake 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 during the period. Avion Wealth lifted its stake in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after acquiring an additional 127 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Veeva Systems in the fourth quarter worth approximately $31,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Down 2.0 %

Veeva Systems stock opened at $221.53 on Wednesday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company’s 50 day moving average price is $223.69 and its two-hundred day moving average price is $218.40. The stock has a market cap of $35.97 billion, a P/E ratio of 54.70, a P/E/G ratio of 1.89 and a beta of 0.85.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VEEV shares. Canaccord Genuity Group lifted their target price on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and lowered their target price for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Piper Sandler lifted their target price on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company lifted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $255.08.

Veeva Systems Company 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.