True Wealth Design LLC Raises Stock Position in Veeva Systems Inc. (NYSE:VEEV)

True Wealth Design LLC raised its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 3,375.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 139 shares of the technology company’s stock after buying an additional 135 shares during the period. True Wealth Design LLC’s holdings in Veeva Systems were worth $29,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after buying an additional 1,392,256 shares during the last quarter. FMR LLC boosted its stake in shares of Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after acquiring an additional 610,021 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after acquiring an additional 1,267,061 shares during the period. Van ECK Associates Corp grew its position in shares of Veeva Systems by 3.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,995,006 shares of the technology company’s stock valued at $434,372,000 after acquiring an additional 71,525 shares during the period. Finally, Swedbank AB increased its stake in shares of Veeva Systems by 4.9% in the 2nd quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock worth $188,695,000 after purchasing an additional 48,402 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Down 0.2 %

VEEV opened at $227.46 on Tuesday. The stock has a 50-day moving average of $216.04 and a 200 day moving average of $202.05. Veeva Systems Inc. has a 12 month low of $165.12 and a 12 month high of $240.68. The firm has a market cap of $36.83 billion, a P/E ratio of 60.66, a P/E/G ratio of 2.21 and a beta of 0.82.

Analyst Upgrades and Downgrades

A number of analysts have commented on VEEV shares. Bank of America upped their price target on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Truist Financial raised their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research report on Friday, November 8th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Finally, Citigroup lifted their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.92.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.50% of the company’s stock.

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.