Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Lessened by HB Wealth Management LLC

HB Wealth Management LLC decreased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,731 shares of the technology company’s stock after selling 411 shares during the period. HB Wealth Management LLC’s holdings in Veeva Systems were worth $364,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after buying an additional 1,392,256 shares during the period. State Street Corp boosted its stake in Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after buying an additional 47,872 shares in the last quarter. FMR LLC grew its holdings in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after purchasing an additional 610,021 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Veeva Systems by 5.7% during the third quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock worth $579,630,000 after buying an additional 149,807 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after purchasing an additional 1,081,501 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VEEV shares. Canaccord Genuity Group upped their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their price target on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. The Goldman Sachs Group downgraded Veeva Systems from a “buy” rating to a “sell” rating and dropped their price target for the company from $261.00 to $200.00 in a research note on Thursday. Mizuho began coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective on the stock. Finally, Stifel Nicolaus increased their price target on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.96.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $223.23 on Friday. The stock has a market capitalization of $36.24 billion, a PE ratio of 55.12, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84. The company has a 50-day simple moving average of $221.55 and a two-hundred day simple moving average of $210.52. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93.

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.