Cetera Investment Advisers Sells 1,479 Shares of Veeva Systems Inc. (NYSE:VEEV)

Cetera Investment Advisers decreased its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,594 shares of the technology company’s stock after selling 1,479 shares during the period. Cetera Investment Advisers’ holdings in Veeva Systems were worth $16,104,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Veeva Systems in the 4th quarter worth approximately $25,000. Smithfield Trust Co increased its holdings in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after buying an additional 80 shares during the last quarter. Avion Wealth raised its position in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after buying an additional 127 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth $31,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on VEEV shares. JPMorgan Chase & Co. raised their price target on Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Morgan Stanley raised their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a report on Thursday, March 6th. Truist Financial increased their price target on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research report on Thursday, March 6th. Stephens restated an “overweight” rating and issued a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Finally, KeyCorp reduced their target price on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.92.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares of the company’s stock, valued at $5,720,692.33. This trade represents a 4.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the business’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock valued at $1,284,917 in the last three months. 10.50% of the stock is currently owned by company insiders.

Veeva Systems Stock Down 1.2 %

NYSE VEEV opened at $236.60 on Friday. The firm has a market capitalization of $38.49 billion, a PE ratio of 58.42, a P/E/G ratio of 1.89 and a beta of 0.96. The stock’s 50 day moving average is $227.98 and its 200 day moving average is $225.25. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Veeva Systems Company 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.