HB Wealth Management LLC Has $5.31 Million Stock Position in Veeva Systems Inc. $VEEV

HB Wealth Management LLC raised its holdings in Veeva Systems Inc. (NYSE:VEEV) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,424 shares of the technology company’s stock after acquiring an additional 402 shares during the quarter. HB Wealth Management LLC’s holdings in Veeva Systems were worth $5,306,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of VEEV. Abound Financial LLC acquired a new stake in shares of Veeva Systems during the first quarter worth $25,000. ORG Partners LLC acquired a new stake in shares of Veeva Systems during the first quarter worth $26,000. Golden State Wealth Management LLC increased its position in shares of Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock worth $30,000 after buying an additional 78 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Veeva Systems during the first quarter worth $32,000. Finally, Maseco LLP acquired a new stake in shares of Veeva Systems during the second quarter worth $35,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 172 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total value of $48,676.00. Following the transaction, the director directly owned 4,137 shares of the company’s stock, valued at approximately $1,170,771. This trade represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the firm’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the transaction, the senior vice president directly owned 7,902 shares in the company, valued at $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,063 shares of company stock worth $302,955 over the last ninety days. Insiders own 10.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VEEV shares. JPMorgan Chase & Co. upgraded shares of Veeva Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $290.00 to $330.00 in a research report on Monday, September 8th. Oppenheimer reiterated an “outperform” rating and set a $325.00 price objective on shares of Veeva Systems in a research report on Thursday, August 28th. Canaccord Genuity Group increased their target price on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, August 28th. UBS Group increased their target price on shares of Veeva Systems from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Finally, Mizuho increased their target price on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Sixteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $303.67.

Veeva Systems Trading Up 1.7%

Veeva Systems stock opened at $298.00 on Wednesday. Veeva Systems Inc. has a 1-year low of $200.30 and a 1-year high of $299.95. The firm has a market capitalization of $48.85 billion, a price-to-earnings ratio of 61.19, a price-to-earnings-growth ratio of 2.26 and a beta of 0.95. The firm’s fifty day moving average price is $281.23 and its two-hundred day moving average price is $261.68.

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.