Atria Wealth Solutions Inc. Trims Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Atria Wealth Solutions Inc. lowered its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 19.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,986 shares of the technology company’s stock after selling 2,381 shares during the period. Atria Wealth Solutions Inc.’s holdings in Veeva Systems were worth $2,100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VEEV. Blue Trust Inc. boosted its stake in shares of Veeva Systems by 453.9% in the 3rd quarter. Blue Trust Inc. now owns 986 shares of the technology company’s stock valued at $207,000 after purchasing an additional 808 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Veeva Systems by 19,189.0% during the 3rd quarter. International Assets Investment Management LLC now owns 119,206 shares of the technology company’s stock valued at $25,018,000 after buying an additional 118,588 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Veeva Systems during the 3rd quarter valued at $307,000. IFM Investors Pty Ltd raised its holdings in Veeva Systems by 0.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 29,486 shares of the technology company’s stock valued at $6,188,000 after buying an additional 109 shares during the last quarter. Finally, Mediolanum International Funds Ltd raised its holdings in Veeva Systems by 43.6% during the 3rd quarter. Mediolanum International Funds Ltd now owns 59,326 shares of the technology company’s stock valued at $12,488,000 after buying an additional 18,001 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

VEEV stock opened at $226.10 on Friday. The firm has a fifty day moving average price of $223.76 and a 200 day moving average price of $217.39. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a market cap of $36.71 billion, a PE ratio of 55.83, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VEEV shares. Evercore ISI upped their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Royal Bank of Canada upped their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Barclays upped their price objective on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Stephens began coverage on shares of Veeva Systems in a research report on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.08.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 10.50% of the stock is currently owned by insiders.

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.