GeoWealth Management LLC Buys 101 Shares of Veeva Systems Inc. (NYSE:VEEV)

GeoWealth Management LLC grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,022 shares of the technology company’s stock after acquiring an additional 101 shares during the quarter. GeoWealth Management LLC’s holdings in Veeva Systems were worth $215,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its stake in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at $25,000. Smithfield Trust Co increased its position in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after buying an additional 80 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Veeva Systems during the 4th quarter worth $31,000. Finally, Avion Wealth raised its stake in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after buying an additional 127 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Up 2.2 %

VEEV opened at $220.47 on Thursday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The business has a 50 day moving average of $226.21 and a 200-day moving average of $223.55. The stock has a market cap of $35.87 billion, a price-to-earnings ratio of 54.44, a PEG ratio of 1.89 and a beta of 1.05.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the sale, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now owns 5,500 shares in the company, valued at approximately $1,192,565. This trade represents a 41.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock valued at $1,284,917 in the last quarter. 10.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

VEEV has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research report on Thursday, March 6th. Robert W. Baird raised their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Truist Financial raised their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and reduced their target price for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $254.92.

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.