Legal Advantage Investments Inc. Sells 400 Shares of Veeva Systems Inc. (NYSE:VEEV)

Legal Advantage Investments Inc. lessened its position in Veeva Systems Inc. (NYSE:VEEV) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,340 shares of the technology company’s stock after selling 400 shares during the quarter. Veeva Systems accounts for 2.3% of Legal Advantage Investments Inc.’s portfolio, making the stock its 12th largest position. Legal Advantage Investments Inc.’s holdings in Veeva Systems were worth $4,276,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings 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 valued at $25,000 after buying an additional 50 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems during the 3rd quarter valued at about $26,000. True Wealth Design LLC increased its position in Veeva Systems by 3,375.0% during the 3rd 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 during the period. Retirement Wealth Solutions LLC purchased a new position in Veeva Systems during the 4th quarter valued at about $31,000. Finally, Fairscale Capital LLC purchased a new position in Veeva Systems during the 2nd quarter valued at about $46,000. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

VEEV has been the topic of a number of research reports. Guggenheim raised their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company raised their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Mizuho initiated coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Bank of America lifted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.74.

Veeva Systems Trading Up 0.9 %

VEEV stock opened at $216.67 on Tuesday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The stock has a market cap of $35.18 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 1.90 and a beta of 0.84. The business’s 50-day moving average is $222.31 and its 200 day moving average is $209.86.

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.