143 Shares in Veeva Systems Inc. (NYSE:VEEV) Purchased by Retirement Wealth Solutions LLC

Retirement Wealth Solutions LLC acquired a new position in Veeva Systems Inc. (NYSE:VEEV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 143 shares of the technology company’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. General American Investors Co. Inc. purchased a new position in shares of Veeva Systems in the 3rd quarter worth about $5,133,000. Toronto Dominion Bank raised its position in Veeva Systems by 39.1% in the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after acquiring an additional 5,673 shares during the period. Procyon Advisors LLC purchased a new position in Veeva Systems in the third quarter valued at about $712,000. 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. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Veeva Systems by 3.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after acquiring an additional 2,733 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $216.67 on Friday. The company has a 50 day simple moving average of $222.68 and a two-hundred day simple moving average of $209.23. The firm has a market cap of $35.18 billion, a PE ratio of 53.50, a PEG ratio of 1.91 and a beta of 0.84. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was 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 of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on VEEV shares. Bank of America upped their price objective on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Stifel Nicolaus lifted their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. KeyCorp lowered their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Truist Financial cut their target price on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $255.74.

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.