Ieq Capital LLC Has $3.19 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Ieq Capital LLC boosted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 67.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,147 shares of the technology company’s stock after purchasing an additional 6,102 shares during the period. Ieq Capital LLC’s holdings in Veeva Systems were worth $3,185,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB increased its stake in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. True Wealth Design LLC grew its holdings in 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 during the last quarter. Avion Wealth increased its position in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems in the fourth quarter worth about $31,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $226.10 on Friday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The company has a market capitalization of $36.71 billion, a P/E ratio of 55.83, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The business has a 50-day moving average of $223.76 and a two-hundred day moving average of $217.39.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of research reports. Piper Sandler raised their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Morgan Stanley boosted their target price on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. Truist Financial decreased their price target on 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 objective 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 issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.08.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is owned by company 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.