Mission Wealth Management LP trimmed its stake in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 26.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 16,763 shares of the technology company’s stock after selling 6,073 shares during the quarter. Mission Wealth Management LP’s holdings in Veeva Systems were worth $3,742,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. RiverFront Investment Group LLC bought a new stake in shares of Veeva Systems during the 4th quarter valued at $558,000. North Dakota State Investment Board bought a new stake in shares of Veeva Systems during the 4th quarter valued at $1,160,000. Accredited Investors Inc. bought a new stake in shares of Veeva Systems during the 4th quarter valued at $589,000. Stephens Investment Management Group LLC lifted its position in shares of Veeva Systems by 0.8% during the 4th quarter. Stephens Investment Management Group LLC now owns 57,349 shares of the technology company’s stock worth $12,802,000 after buying an additional 456 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in shares of Veeva Systems by 1.7% during the 4th quarter. DNB Asset Management AS now owns 30,306 shares of the technology company’s stock worth $6,765,000 after buying an additional 500 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.
Veeva Systems Price Performance
Shares of VEEV opened at $163.98 on Tuesday. The business has a 50-day moving average of $170.83 and a 200-day moving average of $207.29. The company has a market capitalization of $26.78 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 0.71 and a beta of 0.92. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50.
Wall Street Analyst Weigh In
VEEV has been the subject of several recent analyst reports. TD Cowen dropped their price objective on Veeva Systems from $380.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Truist Financial restated a “buy” rating and set a $262.00 price objective (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. UBS Group upped their price objective on Veeva Systems from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Royal Bank Of Canada decreased their price target on shares of Veeva Systems from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Finally, Oppenheimer decreased their price target on shares of Veeva Systems from $275.00 to $225.00 and set an “outperform” rating on the stock in a report on Monday. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $276.52.
Check Out Our Latest Stock Analysis on VEEV
Insider Activity at Veeva Systems
In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total value of $116,730.00. Following the transaction, the director directly owned 3,253 shares of the company’s stock, valued at $506,296.92. The trade was a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.
Veeva Systems Company Profile
Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.
Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.
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