HF Advisory Group LLC Decreases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

HF Advisory Group LLC cut its holdings in Veeva Systems Inc. (NYSE:VEEV) by 41.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,933 shares of the technology company’s stock after selling 1,383 shares during the quarter. HF Advisory Group LLC’s holdings in Veeva Systems were worth $406,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its position in Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after purchasing an additional 1,392,256 shares during the period. Principal Financial Group Inc. raised its holdings in 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 buying an additional 1,267,061 shares during the period. JPMorgan Chase & Co. lifted its position in Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after buying an additional 1,081,501 shares during the last quarter. FMR LLC boosted its stake in Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after buying an additional 610,021 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Veeva Systems by 761.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 297,771 shares of the technology company’s stock valued at $62,493,000 after acquiring an additional 263,214 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VEEV shares. Stifel Nicolaus upped their price objective on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Piper Sandler raised their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Robert W. Baird lifted their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, December 6th. JPMorgan Chase & Co. upped their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Finally, Citigroup lifted their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $255.74.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $216.67 on Friday. The firm has a market capitalization of $35.18 billion, a P/E ratio of 53.50, a P/E/G ratio of 1.91 and a beta of 0.84. The business’s 50-day moving average is $222.31 and its 200 day moving average is $209.47. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

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 stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 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.