Veeva Systems Inc. (NYSE:VEEV) Stock Holdings Decreased by Lyell Wealth Management LP

Lyell Wealth Management LP reduced its position in Veeva Systems Inc. (NYSE:VEEV) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,526 shares of the technology company’s stock after selling 133 shares during the period. Lyell Wealth Management LP’s holdings in Veeva Systems were worth $11,254,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position 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 worth $25,000 after acquiring an additional 50 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems during the third quarter valued at approximately $26,000. True Wealth Design LLC grew its position in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Veeva Systems during the fourth quarter valued at approximately $31,000. Finally, Avion Wealth grew its position in Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after acquiring an additional 127 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VEEV has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Morgan Stanley upped their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. Mizuho assumed coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price for the company. The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and dropped their price objective for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, Barclays upped their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $253.96.

Veeva Systems Stock Performance

Shares of VEEV opened at $233.06 on Wednesday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market cap of $37.84 billion, a P/E ratio of 57.54, a PEG ratio of 1.93 and a beta of 0.85. The firm’s 50 day moving average price is $224.24 and its two-hundred day moving average price is $216.60.

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.