Smith Group Asset Management LLC Has $17.36 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Smith Group Asset Management LLC increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,567 shares of the technology company’s stock after buying an additional 1,749 shares during the quarter. Smith Group Asset Management LLC owned about 0.05% of Veeva Systems worth $17,360,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems during the third quarter worth $26,000. True Wealth Design LLC lifted its stake in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Veeva Systems during the fourth quarter valued at about $31,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Veeva Systems during the third quarter worth about $49,000. Institutional investors own 88.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America increased their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Royal Bank of Canada lifted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Evercore ISI increased their price target on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. Robert W. Baird boosted their price objective on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Citigroup raised their target price on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.96.

Veeva Systems Stock Up 2.8 %

VEEV stock opened at $232.18 on Wednesday. The stock has a 50-day simple moving average of $221.87 and a two-hundred day simple moving average of $211.57. The firm has a market capitalization of $37.69 billion, a PE ratio of 57.33, a PEG ratio of 2.01 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.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’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 transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

About Veeva Systems

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.