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

Ieq Capital LLC increased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 67.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,147 shares of the technology company’s stock after acquiring 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.

A number of other hedge funds have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its position in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. True Wealth Design LLC increased its position 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 acquiring an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in Veeva Systems during the fourth quarter worth about $31,000. Avion Wealth boosted its position in Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Veeva Systems by 2,716.7% during the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock valued at $36,000 after purchasing an additional 163 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VEEV. Piper Sandler upped their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Mizuho started coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target for the company. Robert W. Baird boosted their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Evercore ISI upped their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.08.

Veeva Systems Stock Performance

VEEV stock opened at $226.10 on Friday. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a market capitalization of $36.71 billion, a PE ratio of 55.83, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The company’s 50-day simple moving average is $223.76 and its 200 day simple moving average is $217.39.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 10.50% of the company’s stock.

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.