1,059 Shares in Veeva Systems Inc. (NYSE:VEEV) Acquired by FFT Wealth Management LLC

FFT Wealth Management LLC bought a new stake in shares of Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, Holdings Channel.com reports. The firm bought 1,059 shares of the technology company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings 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 worth $25,000 after purchasing an additional 50 shares during the period. Centricity Wealth Management LLC bought a new stake in Veeva Systems during the fourth quarter worth approximately $25,000. True Wealth Design LLC boosted its stake in shares of Veeva Systems by 3,375.0% during 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 in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at $31,000. Finally, Avion Wealth increased its position 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 in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a research report on Friday, January 17th. Scotiabank increased their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Truist Financial dropped their target price on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Finally, Canaccord Genuity Group lifted their price target on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.08.

Insiders Place Their Bets

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

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $227.64 on Thursday. The firm has a fifty day moving average of $223.82 and a two-hundred day moving average of $218.46. The stock has a market capitalization of $36.96 billion, a price-to-earnings ratio of 56.21, a PEG ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93.

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.