Diversify Wealth Management LLC Increases Position in Veeva Systems Inc. (NYSE:VEEV)

Diversify Wealth Management LLC boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 3.3% during the fourth quarter, Holdings Channel reports. The fund owned 10,496 shares of the technology company’s stock after acquiring an additional 335 shares during the period. Diversify Wealth Management LLC’s holdings in Veeva Systems were worth $2,286,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in VEEV. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems during the 3rd quarter valued at about $26,000. True Wealth Design LLC raised its stake 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 acquiring an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems in the 4th quarter worth approximately $31,000. Fairscale Capital LLC purchased a new stake in shares of Veeva Systems in the 2nd quarter valued at $46,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems during the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction 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 sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This trade 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. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on 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 owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % 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 Stock Up 0.9 %

VEEV stock opened at $216.67 on Tuesday. The business has a 50 day moving average of $222.31 and a 200 day moving average of $209.86. The firm has a market cap of $35.18 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.84. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Analysts Set New Price Targets

Several analysts have weighed in on VEEV shares. Stifel Nicolaus boosted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup increased their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research note on Friday. Bank of America increased 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. Finally, Piper Sandler lifted their target price 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.