IHT Wealth Management LLC Purchases New Position in Veeva Systems Inc. (NYSE:VEEV)

IHT Wealth Management LLC bought a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,096 shares of the technology company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VEEV. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Veeva Systems during the 3rd quarter worth $26,000. True Wealth Design LLC grew its holdings in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares during the last quarter. DT Investment Partners LLC bought a new stake in Veeva Systems during the 2nd quarter worth approximately $35,000. Finally, Fairscale Capital LLC bought a new stake in Veeva Systems during the 2nd quarter worth approximately $46,000. Institutional investors own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction dated 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 directly owns 8,061 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

Veeva Systems Trading Up 0.1 %

Veeva Systems stock opened at $246.19 on Wednesday. Veeva Systems Inc. has a 1-year low of $169.98 and a 1-year high of $258.93. The firm has a market capitalization of $39.87 billion, a price-to-earnings ratio of 60.79, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. The firm’s fifty day moving average price is $219.02 and its two-hundred day moving average price is $203.12.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VEEV shares. Evercore ISI boosted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. Royal Bank of Canada upped their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Raymond James upped their target price on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Stifel Nicolaus upped their target price on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Guggenheim upped their target price on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.35.

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.